UK - The £1.7bn Hampshire Pension Fund has sold properties for £22.9m to Axa Real Estate Investment Management.
The sale consists of two office buildings in Bracknell and a retail park in Stafford with mixed-use accommodation.
The scheme said it sold the property to limit portfolio risk.
Savills Fund Management, which represented the Hampshire Pension Fund, said the properties were too large in relation to the fund’s value as a whole.
Savills Fund Management director George Tindley said: “Reinvestment of the proceeds will be into prime, but smaller lot sizes, within the industrial and office sectors.”
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