UK REIT Teams Up With Pension Giant In $237M Venture

Law360, New York (November 15, 2011, 3:51 PM EST) -- Metric Property Investments PLC has joined forces with U.K. pension giant Universities Superannuation Scheme Ltd. to form a £150 million ($237 million) joint venture that will target smaller retail properties for acquisition, the London-based real estate investment trust said Tuesday.

The joint venture, known as the Metric Income Plus Ltd. Partnership, will buy profitable retail parks and solo properties valued at between £2 million to £20 million and will strive for a 7 percent yield, Metric Property Investments said.

The education-industry pension fund has committed an...
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