LONDON, Jan 6 (Reuters) - A Legal & General's unitand Dutch pension fund manager PGGM have bought the BishopsgateLong-term Property Fund Unit Trust for around 370 million pounds($562 million), L&G Property said on Tuesday.
The acquisition gives a net initial yield of 6 percent, L&Gsaid in a statement.
The trust holds 24 commercial properties located acrossBritain, including two prime London offices in Covent Garden andKensington, L&G said, with nearly 60 percent of its assets byvalue in London and south of England.($1 = 0.6584 pounds) (Reporting by Carolyn Cohn; editing by Nishant Kumar)