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British Land takes stake in new property exchange

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British Land takes stake in new property exchange

Amid property funds worth over £15 billion in the U.K.getting hit hard by Brexit's impact on the commercial real estate market, astart-up property securities exchange in London attracted the attention of U.K.heavyweight British Land Co. Plc.

The company, which has landed a stake in the exchange, wasreported by London's Financial Timesas saying that IPSX could provide asset owners "with a new fully regulatedU.K. capital markets solution for commercial property," and will allowinvestors to acquire shares in buildings on a regulated market.

The stake size and consideration were not disclosed by thecompany, according to FT.

IPSX, short for the International Property SecuritiesExchange, claims to be the first regulated securities exchange that caterssolely to the commercial real estate market. It is expected to open in late2016 or early 2017.

The exchange's focus will be the admission and trading ofspecial purpose vehicles that hold a single commercial building or portfolioworth about £30 million or more.