Business

Legal & General in property launch

11 April 2012

Legal & General's property arm today launched a £1 billion UK Property Income Fund in the hope of cashing in on an increase in real-estate valuations.

It raised £175 million in the first closing deadline on the fund and said it had received strong interest from forthcoming investors.

L&G Property said: "Target assets will be well located, with lot sizes between £50 million and £100 million in the office, retail and industrial sectors."

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