Lone Star Buys £400 Million UK Properties from St James’s Place

St James’s Place Plc has sold a portfolio of UK properties to Lone Star as the wealth manager continues winding down its property funds and investment trusts.
The private equity firm is acquiring 16 warehouses, stores and offices around the UK from St James’s Place’s Property Unit Trust and Life and Pensions Trust, according to a statementBloomberg Terminal Monday. It has agreed to pay more than £400 million ($527 million) for the portfolio, two people with knowledge of the transaction said, asking not to be identified as the terms are not public.