NewRiver has completed the formation of its joint venture with Bravo, a fund managed by Pimco.
The jv has also completed the £60.5m acquisition of four retail parks from Zurich Assurance, reflecting a net initial yield of 9.8%.
NewRiver will initially hold a 50% interest in the gross assets of the jv equating to £30.2m and benefit from 50% of its net rental income, which is £3.1m per annum.
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