Shares in RDI REIT closed up 13.5% today, as the company confirmed that Starwood Capital Group is taking a 29.42% stake in it.
RDI’s stock leapt after existing investor Redefine Properties announced on the Johannesburg Stock Exchange that it was exiting its investment to Starwood, and closed at 84p, its highest in more than three months.
Other REIT risers on the London market included NewRiver REIT (up by 9.3% at 66.1p) and Ediston Property Investment Company (up by 6% at 56.2p).
The sharpest fall among the REITs was seen by BMO Commercial Property Trust, down by 8.4% at 63.2p.
The FTSE 100 gained about 1.1% to close at 6,225 points. The FTSE 250 was up by 0.5% at 17,198.
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