REG - NewRiver Retail Ltd - Acquisition completion <Origin Href="QuoteRef">KSK.L</Origin> <Origin Href="QuoteRef">NRRT.L</Origin>

KSK Power VenturAnnouncement

25/07/2015 09:41

For best results when printing this announcement, please click on the link
below:

http://pdf.reuters.com/Regnews/regnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20150721:nRSU5804Ta


RNS Number : 5804T
NewRiver Retail Limited
21 July 2015 
 
NewRiver Retail Limited 
 
("NewRiver" or the "Company") 
 
Completion of Acquisitions Totalling £121 Million 
 
Deploying Majority of Recent £150 Million Equity Fund Raise 
 
Further to recent announcements, NewRiver Retail Limited (AIM: NRR), the UK
REIT specialising in value-creating retail property investment and active
asset management, is pleased to announce the completion of three strategic
acquisitions totalling £121 million marking the deployment of the majority of
the £150 million raised in the Company's recent equity fund raise. 
 
·    The Ramsay Retail Warehouse Portfolio for a total consideration of £69.1
million, equating to a net initial yield of 8.0 per cent. on the income
producing assets. The geographically diverse portfolio has been acquired from
a major foodstore operator and comprises 13 assets and includes nine value-led
retail parks and four development sites each with approved planning consents
and pre-let interest from retailers; 
 
·    The £29 million acquisition from LVS, a subsidiary of Bravo II*, for the
acquisition of the 50 per cent. stake not already owned by NewRiver in the
Trent JPUT - the Marston's public house portfolio - at an implied net initial
yield of 10.1 per cent bringing the portfolio 100 per cent. under NewRiver's
ownership; 
 
·    The £23 million acquisition from LVS, a subsidiary of Bravo II*, of the
50 per cent. stake not already owned by NewRiver, in the Camel III JPUT - a
portfolio of five shopping centres reflecting an implied net initial yield of
7.2 per cent bringing the portfolio 100 per cent. under NewRiver's ownership. 
 
The three acquisitions, together with planned capital expenditure for
identified risk-controlled development opportunities, will effectively deploy
the £150 million raised in the Placing of new shares as announced on 19 June
2015. 
 
David Lockhart, Chief Executive at NewRiver Retail, said: 
 
"We are delighted to have completed these three major acquisitions totalling
£121 million, effectively deploying the £150 million equity capital raised
which completed last week. Following the completion of these acquisitions our
assets under management now total £918 million, the vast majority of which are
on our own balance sheet." 
 
- ends - 
 
For further information 
 
 NewRiver Retail Limited David Lockhart, Chief ExecutiveMark Davies, Finance Director  Tel: 020 3328 5800  
 Bell PottingerDavid Rydell / James Newman / David Bass                                Tel: 020 3772 2500  
 LiberumRichard Crawley / Jamie Richards                                               Tel: 020 3100 2000  
 Peel Hunt LLPCapel Irwin / Alex Vaughan / Hugh Preston                                Tel: 020 7418 8900  
 
 
*LVS, a subsidiary of Bravo II, refers to a fund advised or managed by Pacific
Investment Management Company LLC 
 
About NewRiver 
 
NewRiver Retail Limited is an AIM listed REIT. The Company is a specialist
real estate investor and asset manager focused solely on UK retail with a
particular focus on food and value retailing. NewRiver Retail was named
Property Company of the Year - Retail & Leisure at the Estates Gazette Awards
at the close of 2014. 
 
The management team, with over 100 years combined experience in the UK
commercial property market, actively engages with retailers, stakeholders and
consumers. NewRiver Retail is one of the UK's largest shopping centre
owner/managers with assets under management of £918 million principally
comprising 29 UK wide shopping centres, further nationwide retail assets and a
portfolio of 202 public houses principally suitable for conversion to
alternative uses. The portfolio has 1,411 occupiers, a total of over 6 million
sq ft, total annual footfall of over 121 million and a retail occupancy rate
of 96 per cent. 
 
In June 2015 NewRiver announced its intention to move from AIM to the Main
Market of the London Stock Exchange within 12 months. 
 
This information is provided by RNS
The company news service from the London Stock Exchange