Hammerson plc (Hammerson) said on Monday that it has completed the sale of substantially all of its 50% interest in VIA Outlets to the APG Strategic Real Estate Pool, a mutual fund managed by APG Asset Management N.V., for €307 million (£277m).
Hammerson said the transaction is based on a gross asset value for Hammerson’s share of the VIA portfolio of €644 million and represents a net initial yield of 6.5% and an 18.3% discount to gross asset value as at 30 June 2020.
In August, UK listed real estate company Hammerson had announced a proposed rights issue to raise gross proceeds of approximately £552 million (Rights Issue) and the sale of substantially all of its 50% interest in VIA Outlets to a mutual fund managed by APG Asset Management N.V. (APG) for €301 million (equivalent to approximately £274 million), to raise a combined total gross proceeds of approximately £825 million.
READ ALSO : Hammerson announces stake sale in VIA Outlets and rights issue to raise £825m
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