UK property firm Land Securities has said its property partnership business Land Securities Trillium (LST) has acquired a portfolio of hotels from the world's fourth-largest hotel operator Accor as part of a sale and leaseback deal. The group, whcih became a real estate investment trust (REIT) in January, will pay £439 mln (EUR 660 mln) for the portfolio, with a commitment to invest about £35 mln over the next four years in property improvement works.
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