Ediston Property agrees to £200m sale of property portfolio

To Realty Income subsidiary

Elliot Gulliver-Needham
clock • 2 min read

Ediston Property Investment Company has agreed to sell the entirety of its property portfolio to a subsidiary of S&P 500 constituent Realty Income for £200.8m.

The move follows the launch of a strategic review on 16 March, and the trust's announcement last month that it was in talks with Realty Income to sell its property portfolio. After transaction costs, the trust expected to gain £152.2m for the deal, or 72p per share, which represents a 17.7% premium on its share price of 61.2p upon the launch of the strategic review. However, the deal also represents a 10.8% discount to the most recent net asset value per share of 80.77p, which was published on 30 June. Ediston Property confirms plans to sell entire portfolio Launched in 2014, th...

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