Reit Asset Management emerged as the winner of the auction for Evan's Property Group's 275-building UK portfolio. Reit, run by tycoon Leo Noe, beat major US and UK investors in the bidding for the £425 mln (EUR 627 mln) portfolio put up for sale earlier this year, Bloomberg reported.
Reit Asset Management emerged as the winner of the auction for Evan's Property Group's 275-building UK portfolio. Reit, run by tycoon Leo Noe, beat major US and UK investors in the bidding for the £425 mln (EUR 627 mln) portfolio put up for sale earlier this year, Bloomberg reported.
The 1.82 million m2 portfolio of industrial and office properties is located the Midlands and north-east England. Reit is understood to have beaten off previous favourite Catalysts Capital and a Royal Bank of Scotland-led consortium. Jones Lang LaSalle is advising Evans, which plans to use the proceeds for the sale to finance the expansion of its development arm. Both Reit and Evans declined to comment.
