Palace Capital has paid £53.3m for RT Warren, which has a commercial portfolio of 21 properties.
To finance the acquisition, Palace Capital is proposing a share placing to raise £70m, of which £4.3m is subject to clawback.
RT Warren’s portfolio comprises 15 office buildings, four predominantly retail properties and two industrial holdings. More than 90% of the commercial properties are in the Home Counties. It also owns 65 residential properties located mostly around Hillingdon in west London.
