ABPP Sells Business Park To Rreef

Arlington Business Parks Partnership Fund(ABPP) has sold theReading International Business Parkto international clients ofRreef. The property is the European headquarters of U.S. telecommunications companyVerizon Communications. The real estate has been let out to Verizon for 10 years.

The deal, which has been valued at more than £140 million, comprises phases I and II of the property. ABPP will retain the adjacent land for phase III of the park. The proceeds will be reused as part of an ongoing strategy to improve investor returns and help facilitate future commercial development opportunities.

Click here for the release fromPR Newswire.