Hansteen Holdings PLC (LSE:HSTN) exchanged contracts to acquire a portfolio of 34 properties in UK from St. Modwen Properties PLC (LSE:SMP) and others for £53.7 million on August 6, 2018. St. Modwen Properties PLC will receive £47.3 million as its share of the consideration. The purchase will be funded by Hansteen Holdings PLC with current cash resources and a drawdown under the revolving credit facility from the Royal Bank of Scotland. The portfolio generates a current rent of £5.25 million per annum. The transaction is expected to complete shortly. St. Modwen Properties PLC intends to reinvest the disposal proceeds into its industrial/logistics pipeline. Capel Irwin of Peel Hunt acted as financial advisor for Hansteen Holdings PLC. Mark Emerson acted as legal advisor to Hansteen Holdings PLC.

Hansteen Holdings PLC (LSE:HSTN) cancelled the acquisition of a portfolio of 34 properties in UK from St. Modwen Properties PLC (LSE:SMP) and others on August 6, 2019.