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NewRiver, Morgan Stanley in UK property JV

LONDON: Property investor NewRiver and Morgan Stanley Real Estate Investing have created a joint venture to acquire UK retail property which has bought its first portfolio for £49 million (RM253.83 million).

The closed-end NewRiver Retail Investments LP JV's deal capacity is more than £250 million, including leverage, NewRiver said in a statement on March 1.

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