Pan-European investor and asset manager Meyer Bergman Retail Partners is close to making its first major acquisition in the
The company, which is headquartered in London and has invested more than €7.5bn (£6.5bn) across Europe, is in talks to buy a half-share in the 580,000 sq ft Bentall Centre in Kingston upon Thames, Surrey.
Meyer Bergman, advised by Lunson Mitchenall, is understood to have offered around £105m for the stake, reflecting a yield of around 7%. The stake is being sold by Aviva Investors, on behalf of Norwich Union.
Aviva first put the prime shopping centre up for sale two years ago and was initially seeking £200m for the 50% share (22 September 2007, p40).
Sources said the deal could signal the bottom of the market for prime retail stock. However, others claimed the acquisition was far from a done deal.
“There is a market to buy 100% of these kinds of asset, but it is very difficult for geared purchasers to buy a stake as they may struggle to raise debt,” said one.
Meyer Bergman has not been active in the
The group currently owns just one asset, the 100,000 sq ft Aladdin Shopping Centre in
Strutt & Parker is advising Aviva. Meyer Bergman would not comment.
