Regional REIT completes property deal with The Conygar Investment Co.

Regional REIT Ltd has completed an approximately £129m deal with The Conygar Investment Company to acquire a string of UK regional office, industrial and retail and retail distribution investment properties.

The real estate investment trust said it had acquired the properties through the purchase of a number of Special Purpose Vehicles that owned the individual assets.

Regional REIT said it had now issued about 26.33m new ordinary shares to Conygar in settlement of the acquisition. The deal was first announced in February.

The acquisition was consistent with Regional REIT's strategy for the opportunistic purchase of commercial property investment assets, was complementary to the existing asset base of the group and aligned well with the expertise and experience of the asset manager.

At 12:57 GMT, shares in Regional REIT were up 0.5% to 101.5p on the news.