UK REITs British Land and Land Securities are reportedly in negotiations to swap real estate assets worth £800 mln (€950 mln).
According to a news report by the Times, British Land and Land Securities had held initial talks over the deal, which would see Landsec acquire British Land's 50% share in the massive Meadowhall shopping centre in Sheffield, UK.
In return, British Land would take over Landsec's portfolio of 10 retail parks.
The Times said talks between the companies began last summer, and while they had recently stalled, the deal still remained possible.
Meadowhall - jointly owned by British Land and Norges Bank - was given a value of £779 mln last March, while Landsec's retail park portfolio was valued at £405 mln in September.
