Standard Life Investments (SLI) has unveiled plans for a new closed-ended pan-European real estate recovery vehicle for the advisory market. The UK property fund manager aims to raise up to £75 mln in equity for the fund and through borrowings will seek to leverage the property portfolio by 60% to target a gross asset value of £180 mln (EUR 198 mln).
Legal & General Investment Management’s (LGIM’s) managed fund has acquired Tesco Yarrow Road Poole from clients of abrdn for £46.1 mln (€54 mln).
