Meyer Bergman, the European real estate fund manager, has signed a preliminary agreement to acquire the Exchange Mall in Ilford, UK from the Mall Fund, which is managed by Aviva Investors, well-informed market sources close to the process told PropertyEU. The acquisition price comes to 拢70.6 mln (EUR 82 mln), reflecting a yield of over 8%.
Meyer Bergman, the European real estate fund manager, has signed a preliminary agreement to acquire the Exchange Mall in Ilford, UK from the Mall Fund, which is managed by Aviva Investors, well-informed market sources close to the process told PropertyEU. The acquisition price comes to 拢70.6 mln (EUR 82 mln), reflecting a yield of over 8%.
PropertyEU first reported in March that the company was in talks with The Mall fund to acquire the centre, which has 73 stores and 1,200 parking spaces.
In March, the company also bought a 50% stake in The Bentall Centre, one of London's highest profile shopping centres, from Aviva for around 拢130 mln (EUR 143.3 mln). The Bentall Centre has been the central retail focus in Kingston since 1867. It has 580,000 sq ft of gross lettable area and is home to the Bentalls department store as well as a large number of exclusive retail brands such as Apple, Superdry, H&M, Zara and New Look.
Meyer Bergman is the investment platform founded by Markus Meijer and chaired by Ton Meijer, the former owner and founder of MAB Group, one of the Netherlands' leading retail developers and investors.
