Rockspring Property Investment Managers has bought a Northern Ireland shopping centre.
The firm said it paid 拢45.6m (鈧�62.1m) for the Fairhill shopping centre in Ballymena for its UK Value 2 fund.
The deal 鈥� at 8.6% net initial yield 鈥� is the fund鈥檚 14th and takes total assets up to 拢390m.
Richard Bains, fund manager of Rockspring鈥檚 UK Value series, said it will provide 鈥渓ong term income streams鈥� for investors.
, two unnamed Danish pension funds committed 拢100m to the fund. The institutions joined investors from Australia, Finland, Germany and the UK.
With 50% gearing, the fund is aiming to invest 拢650m in UK core-plus and value-added assets by mid-2016.
The fund, which follows on from the fully invested UK Value 1, has invested in UK retail, office and development land assets.
Cordatus Real Estate, joint venture partner, will manage the scheme.
