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Custodian Property Income REIT PLC - Leicester, England-based real estate investment trust focused on smaller, regional properties - Sells industrial unit in Milton Keynes for £8.0 million, a 9.5% premium to the September 30 valuation. Richard Shepherd-Cross, managing director of the company’s external fund manager says: ‘During our nine years of ownership, we were able to generate a healthy and growing level of income from this asset. We made the decision to crystallise a profit for our shareholders, and we expect to use the sale proceeds towards repaying the company’s existing revolving debt facility. This will further reduce our interest costs and allow the company to fund future improvements to the remaining portfolio.’ Custodian on Friday announced an agreement for an all-share merger with abrdn Property Income Trust Ltd to create a £1.0 billion REIT. Current stock price: 71.31 pence, up 2.8% on Monday 12-month change: down 24% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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