US-based Harbert Management Corporation is under offer to buy the Diamond Portfolio from Aviva Investors for more than the asking price.
Harbert Management Corporation is understood to be in exclusive talks to buy the seven retail warehouse assets for just less than £95m.
As revealed by Estates Gazette, the 500,000 sq ft portfolio was brought to the market in September for £88m – a 7.5% yield.
It is thought to have attracted around 12 offers from parties including F&C REIT, KKR and Pradera.
The Diamond Portfolio comprises a shopping park in Basildon, Essex, retail park in Blyth, Northumberland, a Homebase in Dover, Kent, the Peel Centre in Dumfries, a Sainsbury’s in Hanley, Staffordshire, a Hobbycraft and Matalan in Northampton and the retail park in Lincolnshire.
All the parks have open A1 consent.
Savills and Wilkinson Williams are advising on the sale.
All parties declined to comment.
Annabel.Dixon@estatesgazette.com
