Bussiness
Abrdn completes £351 million portfolio sale
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Abrdn are still trying to sell land at Far Ralia in the Cairngorms National Park
KNIGHT FRANK
1. Abrdn Property Income Trust (API) has completed the sale of the bulk of its portfolio in a deal worth £351 million.
GoldenTree Asset Management and Farran Investments are behind the investment vehicle which has taken on the 39 office, industrial and retail sites.
API said after adjusting for debt and other factors it would book proceeds of £234 million from the deal and intends to return a “substantial” amount of capital to investors next year.
After takeover proposals earlier in the year, shareholders of the trust had voted in May in favour of a managed wind-down.
API still owns land at Far Ralia, in the Cairngorms National Park,
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