Realty in advanced talks to buy Ediston PIC

Ediston PIC’s board has confirmed it is in advanced talks to sell its portfolio to Realty Income. In a stock market update, the property investment company confirmed talks were taking place with RI UK 1, a wholly owned indirect subsidiary of Realty Income Corporation. Earlier this month Ediston PIC said it was in “advanced discussions” with a buyer but did not offer a name. In March, Ediston PIC said it had “a preference for structuring a merger with one or more REITs”, but added that it was open to “all options available” that offer maximum value for its shareholders. It holds 11 retail warehouse assets, with a portfolio value of £204.3m, as at 31 March 2023. Sumit Roy’s Realty Income is also in talks to buy a £100m portfolio of data-centres and offices leased to Vodafone, as well as around £200m of retail parks, from British Land. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews