Hammerson has sold its 50% interest in VIA Outlets to APG Strategic Real Estate Pool, a mutual fund managed by APG Asset Management, for £277m.
Hammerson revealed in August that it was in talks to sell its stake in the outlet centre owner-operator to joint venture partner APG, which owns shopping malls across Europe.
The transaction is based on a gross asset value for Hammerson’s share of the VIA portfolio of €644m (£580m) and represents a net initial yield of 6.5% and an 18.3% discount to gross asset value as at 30 June.
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