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Commercial Property News
'Disposal of Center Parcs commercial property' by Blackstone
Commercial property talks are currently underway between US private equity group Blackstone and Prudential-owned fund manager M&G, it has been reported.
Blackstone could sell most of the business property behind the UK holiday business Center Parcs to M&G, the Financial Times revealed.
The deal - expected to raise more than £1 billion - is one of the largest made in the business property market since 2007's real estate crash.
Sites in Sherwood Forest, Nottingham, Whinfell Forest, Cumbria, Longleat, Somerset and Elveden Forest, Suffolk are all ring-marked for sale, according to the newspaper.
Each are set in 400 acres of forest and offer a variety of facilities.
Over the past year, occupancy rates at the business property have stood at 97%, which could make this an attractive investment.
Blackstone - which acquired the operating company of Center Parks in 2006 for £205 million - will continue to own this side of the business.
Posted by Suzannah Taylor
Blackstone could sell most of the business property behind the UK holiday business Center Parcs to M&G, the Financial Times revealed.
The deal - expected to raise more than £1 billion - is one of the largest made in the business property market since 2007's real estate crash.
Sites in Sherwood Forest, Nottingham, Whinfell Forest, Cumbria, Longleat, Somerset and Elveden Forest, Suffolk are all ring-marked for sale, according to the newspaper.
Each are set in 400 acres of forest and offer a variety of facilities.
Over the past year, occupancy rates at the business property have stood at 97%, which could make this an attractive investment.
Blackstone - which acquired the operating company of Center Parks in 2006 for £205 million - will continue to own this side of the business.
Posted by Suzannah Taylor
Fri, 4th Jun 2010