Fund manager Columbia Threadneedle looks set to lose its last UK real estate investment trust after Balanced Commercial Property Trust (BCPT) put itself up for sale as part of a strategic review looking at the best options for its shareholders.
Paul Marcuse, chair of the £1bn generalist real estate portfolio, said the company was not in talks with any potential bidder and would consider other actions to narrow its 28% share price discount. These include selling some assets, returning capital to shareholders, changing investment strategy or fund manager or starting a managed wind-down.
A continuation vote scheduled for the annual general meeting in June will be postponed until after the strategic review completes in the third quarter.