Tristan Capital Partners has completed a deal to buy Forge retail park in Glasgow from Mike Ashley.
The London-based real estate investment management company has paid £83.6m for the 390,547 sq ft scheme, which will be asset managed by Pradera.
The price reflects a yield of just under 7%.
The park is anchored by Tesco, B&Q and Sports Direct. Rents are around £17 per sq ft and the average unexpired lease term is eight years.
Ashley, the billionaire owner of Newcastle United and Sports Direct, has achieved slightly above the asking price for the retail park, which was put up for sale through CBRE in May.
Tristan is currently deploying capital from its €1.5bn (£1.1bn)European Property Investors Special Opportunities IV fund, which it closed in July.
Last month it bought Hylton Riverside retail park near Sunderland, Tyne & Wear, and Hatters Way retail park situated on the outskirts of Luton, Bedfordshire, from the Hercules Unit Trust for £45m.
Sheridan Property Consultants advised Tristan Capital Partners.
