UK investment advisor Delancey has acquired the Blade portfolio backed by a £900 mln Royal Bank of Scotland loan from Glenn Maud's Propinvest Group. The portfolio comprises 12 assets spread across the leisure, retail, office and warehouse sectors.
UK investment advisor Delancey has acquired the Blade portfolio backed by a £900 mln Royal Bank of Scotland loan from Glenn Maud's Propinvest Group. The portfolio comprises 12 assets spread across the leisure, retail, office and warehouse sectors.
'We are delighted to have extended our working relationship with RBS on unlocking this portfolio,' said Tim Haden-Scott of Delancey. 'This complex transaction represents an opportunity for Delancey to create substantial added value through our extensive asset management expertise.'
Delancey will manage the entire portfolio and is expected to appoint DTZ to provide management services for the English properties with Cogent and Reith Lambert taking charge in Scotland.
All situated within the UK, the largest of the assets is the East Kilbride shopping centre, which comprises 250 retail units and is anchored by Debenhams, Marks & Spencer, Sainsbury's and Primark. Other assets include the Gate leisure centre in Newcastle, which includes a 12-screen cinema, casino and 17 leisure units; the Mander Centre, Wolverhampton - a scheme with around 100 retail units and 550 parking spaces; the Airedale shopping centre, Keighley, comprising 73 units and 220 parking spaces; as well as the Brooklands and Bolton Gate retail parks.
