Property Portfolio: NewRiver, PIMCO Bet on U.K. Retail Parks

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Bloomberg Daybreak Europe

Business


The current market dislocation in the U.K. is providing very attractive buying opportunities, says Allan Lockhart, chief executive officer of NewRiver. He spoke exclusively to Daybreak Europe's Sandra Kilhof on Property Portfolio, as the London-listed REIT announced a joint venture with PIMCO. The deal includes buying four retail parks from Zurich Assurance for 60.5 million pounds and the aim is for the joint venture to grow to about 500 million pounds of assets.