K&C REIT is set to buy Osprey Management Company through the acquisition of all its share capital for £1.6m.
Osprey, owned by Susan Hards, owns a portfolio of freehold interests in retirement and residential properties in London and southern England. It also provides property management services to tenants in most of the freehold portfolio and to other residential and industrial properties.
K&C REIT will pay £1.3m in cash and issue three million ordinary shares to the vendor.
Tim James, managing director of K&C REIT, said: “We are particularly pleased that, in every way, the acquisition supports our investment strategy of seeking and acquiring high quality properties held in special purpose vehicles where the owners are seeking an exit.”
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