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Mattioli Woods PLC - Leicester, England-based specialist wealth and asset management business - Notes the proposed merger of Custodian Property Income REIT PLC and abrdn Property Income Trust Ltd. A subsidiary of Mattioli Woods, Custodian Capital Limited, serves as an investment manager to Custodian Property, and the company said that it will continue to act for the enlarged real estate investment trust following completion of the merger. Mattioli claims the merger would create a combined portfolio of over 200 assets worth around £1.0 billion, which has the potential to increase the annual revenues for its subsidiary by around £1.7 million. Chief Executive Officer Ian Mattioli comments: ‘Since the launch of Custodian Property Income REIT in 2014, seeded with the initial portfolio of £90 million, it has raised monies in the public markets to grow assets under management to over £600 million. The announced proposed merger of Custodian with abrdn is the next stage and takes gross assets under management of Custodian to over £1 billion, while staying true to the 25-year strategy of providing long-term, secure income for investors, from a portfolio of diversified UK real estate.’ Current stock price: 604.00 pence, up 2.4% in London at midday on Friday. 12-month change: down 7.8% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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