CNC Properties has bought two private investment companies to secure a commercial and industrial portfolio totalling 41,250 sq m (444,000 sq ft).
CNC, the commercial property arm of Property Acquisition and Management, acquired the portfolio, which comprises properties in South Wales and South West England, for £17.7m, in a deal that reflects a yield in excess of 10%.
CNC holds a portfolio totalling 4m sq ft of office, retail and industrial properties, worth £178m.
EGi News 15/10/01
