Landsec’s sale of a £650m stake in its leisure portfolio has fallen through, in a major blow to the landlord.
The REIT had been nearing a deal to sell its 95% stake to private equity firm CIT Partners. However, the agreement has now been called off.
The X-Leisure Unit Trust’s 15 properties include Brighton Marina, and two Xscape centres in Milton Keynes and Brighton.
It also owns the bars and restaurants around Oxford Castle.
Landsec declined to comment.
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