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UK property asset manager Capital & Regional has sold an 80% stake in its £180 mln (EUR 235 mln) Fix trade park fund to a consortium led by Paradigm Real Estate and the Bank of Scotland.

The two investors have paid close to £35 mln for the stake in FIX, which owns about 50 trade parks with a total of 93,000 m² of space. Paradigm will asset manage the portfolio jointly with Capital & Regional.

Capital & Regional said the move was aimed at reducing its debt and will use the proceeds to pay down £35 mln of its core debt facility.