British Land to acquire Life Science REIT in a £150m deal.

British Land, a property development and investment company, agreed to acquire Life Science REIT, an externally managed UK REIT, in a £150m deal. "The acquisition of Life Science REIT represents an exciting opportunity for British Land to drive value from a well-located Golden Triangle portfolio. Our scalable platform will unlock significant synergies and attract a broader range of occupiers from the fast-growing Science & Technology sector than the previous life science mandate has allowed. The Acquisition is immediately earnings accretive from synergies alone, is NTA neutral, and has scope for further significant earnings growth from the lease-up of high quality newly delivered space at Oxford Technology Park," Simon Carter, British Land Chief Executive.