Land Securities, the leading UK real estate investment trust (REIT), has sold a 50% stake in its holdings at the corner of Oxford Street and Tottenham Court Road in London to private equity property fund Frogmore Real Estate Partners for £109 mln (EUR 145 mln). The parties also entered into a joint venture agreement under which Frogmore will be responsible for the asset management of the property, while Land Securities will concentrate on its redevelopment potential.
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