The BP Pension Scheme has purchased a Worcester-based Sainsbury's supermarket store from M&G Investments in a deal worth £27.25m.
UK pension funds are not as advanced in diversifying their allocations to real estate compared to their peers in Europe, North America and Australia, experts say.
M&G Investments countered a £900m net outflow in the first half of 2013 with a £4bn net inflow in the third quarter, its parent Prudential's results show.
Two of M&G's funds have jointly purchased 18 car auction sites across the UK for a total of £240m.
M&G Investments has struck a deal with the Welsh government to provide loans worth £153m to 17 housing associations in the country.
M&G Investments has added to its social housing portfolio by providing north west housing provider Regenda Group with a £55m private placement deal.
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M&G Real Estate has further diversified its fund with the purchase of an £88m shopping centre in Sutton Coldfield.
M&G Real Estate has acquired two separate office locations as it looks to diversify and boost returns for investors.
M&G Investments has agreed to fund the construction of 233 social, affordable and private rental homes in London, as part of its property fund.