M&G Real Estate has completed a £198m off-market retail asset swap with BP Pension Fund

M&G Real Estate, on behalf of the M&G Property Portfolio, has acquired Riverside Retail Park in Northampton and Wycombe Retail Park for £123m – in exchange for its interests in the Tesco Extra on Honeywood Parkway in Dover and a Debenhams store in Taunton

M&G Real Estate is also making a balancing cash payment of £48m net of costs. The £2.21bn M&G Property Portfolio, is a pure bricks and mortar fund, which invests in UK commercial property and is aimed at private investors. Edgerley Simpson Howe advised the BP Pension Fund. For further details, contact Tony Rogers.