PRUPIM purchases hotel for secure long income fund

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M&G's real estate investment arm PRUPIM has completed the freehold purchase of Heathrow Terminal 5's Hilton hotel.

The deal was worth £21m and the property is subject to a 200-year full repairing and insuring ground lease to Rising Star LLP, subject to annual RPI-linked reviews. PRUPIM said it made the deal ...

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