|Bid||449.70 x 0|
|Ask||449.70 x 0|
|Day's Range||445.50 - 457.00|
|52 Week Range||3.30 - 596.20|
|Beta (5Y Monthly)||1.54|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 18, 2020|
|Forward Dividend & Yield||0.17 (3.69%)|
|Ex-Dividend Date||Jan 07, 2021|
|1y Target Est||651.59|
(Bloomberg) -- Allianz SE’s real estate unit will take a majority stake in a portfolio of buildings owned by British Land Co. in London’s virus-roiled West End district.The insurance giant has agreed to pay 401 million pounds for a 75% interest in the office properties located in Marylebone, according to a statement Wednesday. The deal, which includes 10 Portman Square, Marble Arch House and York House, is due to complete in January.It is the latest sign of global investors willing to bet on the long-term resilience of the world’s biggest business districts even as the coronavirus pandemic has reduced their appeal. Deals for West End buildings have picked up in the second half with investors seeking out buildings with long leases, lured by returns that dwarf those available from other safe haven assets including government bonds.“This transaction demonstrates that like us, investors remain confident in the long term prospects for high quality assets in prime London locations,” British Land Chief Executive Officer Simon Carter said in the statement.British Land has ramped up sales of buildings with long-leases that still command high prices in order to reinvest capital in new developments and to shore up its balance sheet as the company’s retail tenants continue to miss rental payments. The deal with Allianz is at a premium to the buildings’ September valuation, according to the statement.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
A look at the shareholders of British Land Company Plc (LON:BLND) can tell us which group is most powerful...
The following are the top stories on the business pages of British newspapers. - Canadian investment group Brookfield Asset Management Inc has increased its stake in British Land Company Plc , stoking speculation about a future takeover approach for the UK-listed property company. - The founder of The Hut Group is more than halfway to hitting a target that would give him shares worth 700 million pounds ($907.34 million) after the value of the online retailer rose by a quarter on Wednesday, its first day of trading.