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News & Tips: Hammerson, Provident Financial, British Land & more

News & Tips: Hammerson, Provident Financial, British Land & more

IC TIP UPDATES:

Supermarket Income Reit (SUPR) has formed a joint venture with British Airways Pension Fund to acquire a 25.5 per cent stake in a portfolio of 26 Sainsbury’s (SBR) stores from British Land (BLND). The portfolio is funded by bonds, which mature in 2023, and the rental income received from the portfolio pays down the outstanding balance of the bonds to a final amount which will be repayable in 2023 by way of a refinancing or sale of the portfolio. Buy

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