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London Residential Portfolio Sold
Walworth Investment Properties, a joint venture between investors Grainger and Dorrington has purchased of a residential portfolio in south London owned by Grainger for £111 million.
HSBC provided £60 million in financing for the portfolio that includes 598 residential units and two commercial units. It produces an annual gross rental income of £6 million.
Since acquiring the portfolio in 2011, Grainger has generated a 36 percent return on its investment, according to real estate agent Nigel Emmerson, who advised Grainger in the deal.
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