(Alliance News) - London-based Hammerson PLC on Monday said it has completed the sale of all of its 50% interest in owner-operator of premium fashion outlet destinations, VIA Outlets, to APG Asset Management NV.
The London and Johannesburg dual-listed real estate investment trust said the EUR307 million sale is based on a gross asset value for Hammerson's share of the VIA portfolio of EUR644 million.
This represents a net initial yield of 6.5% and an 18% discount to gross asset value as at June 30.
On Monday, Hammerson shares were down 3.2% at ZAR3.34 each in Johannesburg, and down 3.1% at 15.80 pence each in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Hammerson (HMSO)