Land Securities reported on Wednesday that the value of its portfolio fell by £4.7 bn (EUR 5.2 bn) or 34% in the 12 months to end-March 2009. The largest real estate investment trust (REIT) in the UK booked a pre-tax loss of £4.7 bn compared to a loss of £988 mln in the same period the year before. Adjusted net asset value per share was down 66% at 593p from 1763p a year earlier.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
