Custodian Property Income REIT offloads assets at 9.5% premium ahead of abrdn merger

abrdn Property Income

Custodian Property Income REIT (CREI) has sold off one of its major portfolio units at a 9.5% premium, generating £8m for the trust.

The REIT invests in commercial real estate properties in the UK and said in an RNS notice today (22 January)  it had completed the sale of an industrial unit in Milton Keynes. The £8m sale was a £700m premium, based on the trust's valuation on 30 September 2023. The board of CREI announced last week it had agreed to an all-share merger with abrdn Property Income trust (API). abrdn Property Income agrees to merge with Custodian Property Income REIT CREI is currently running on a 17.53% discount, according to data from the Association of Investment Companies, wider than the 14.8% ...