APAM and Värde Buy Project Titan

Värde Partners with asset manager partner APAM have exchanged contracts to buy the Project Titan secondary mixed-use portfolio from Aviva Commercial Finance for close to £250m.
CoStar News revealed last week that Värde and APAM were heading the bidders alongside Apollo Global Management with M&M Real Estate. Other bidders that had been circling the portfolio were Goldman Sachs with Square Metre Properties, Catalyst Capital and Northwood Investors.
Apollo and M&M were among the underbidders on Project Avimore recently, while Värde with APAM together acquired Project Minard, the 235-strong Local Shopping REIT portfolio for £79.3m earlier this year.
Project Titan is a highly granular secondary mixed-use portfolio comprised of 187 properties spread throughout the UK and comprised of retail, some with residential, offices, industrial and leisure. For a detailed report on Project Titan, please click here (second story in report).
Allsop is advising Värde and APAM.

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