European real estate investment fund Meyer Bergman is the frontrunner in a bid to acquire a community shopping centre in Ilford, UK, market sources close to the process told PropertyEU. The asset is being sold by the Mall Fund, which is managed by Aviva Investors. The property, including over 70 stores, is expected to fetch around £70-80 mln (EUR 78-89 mln), reflecting a yield of over 7%. CB Richard Ellis is advising the seller on the sale.
European real estate investment fund Meyer Bergman is the frontrunner in a bid to acquire a community shopping centre in Ilford, UK, market sources close to the process told PropertyEU. The asset is being sold by the Mall Fund, which is managed by Aviva Investors. The property, including over 70 stores, is expected to fetch around £70-80 mln (EUR 78-89 mln), reflecting a yield of over 7%. CB Richard Ellis is advising the seller on the sale.
The transaction would be the second shopping centre acquisition made by Meyer Bergman in the UK after buying a 50% stake in the Bentall mall in March from Aviva Investors for £130 mln.
On the Continent, the UK-based investor has also emerged as the frontrunner to acquire the Dolce Vida Tejo shopping centre in Lisbon, as reported by PropertyEU in February. The asset, which is being sold by a joint venture of ING Real Estate Development and Portuguese developer Chamartin, is valued at around EUR 280 mln. ING RED has confirmed that it is in talks to sell the asset.
