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Trowers & Hamlins advises Aegon UK Property Fund on £490 million property deal

Trowers & Hamlins advises Aegon UK Property Fund on £490 million property deal

Trowers & Hamlins is pleased to have advised Aegon UK Property Fund on the sale of a portfolio comprised of 19 properties, to Redefine International, the FTSE 250 UK-REIT.

Redefine International has acquired the portfolio through its wholly-owned subsidiary, Redefine AUK, for an aggregate consideration of £437.2 million.  The acquisition is conditional upon shareholder approval, for which an EGM will be convened on 25 September 2015.

Aegon UK Property Fund has also, separate to the portofolio transaction, exchanged contracts unconditionally with Redefine International to acquire Banbury Cross Retail Park for £52.5 million.  Banbury Cross Retail Park is an A1 retail warehouse park and this deal completed on 7 September 2015.    

Philip Peters, Yvette Bryan and Katie Todd advised Aegon UK Property Fund on the deals in England and Wales, while CMS Cameron McKenna advised in Scotland.  Pinsent Masons advised Redefine International on the real estate and banking aspects of the deal.