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LATEST NEWS & EVENTS New River purchases property portfolio  New River has acquired a new licensed property portfolio from Standard Life, which includes five retail developments. The new portfolio has cost a total of £14 million and encompasses retail properties located in Doncaster, Grimsby, Hereford, Warrington and Worthing. Superdrug, Next, TK Maxx and New Look are some of the retail stores that hold tenancies within the properties, which have a weighted average unexpired lease term of 6.5 years. David Lockhart, executive director of New River Retail Limited, said: "NewRiver has acquired a diversified and well-balanced portfolio with numerous value-creating asset management opportunities." Meanwhile, First Property Group (FPG) announced earlier this month that an opportunity fund, entitled Fprop Opportunities, has been incepted within its First Property Asset Management subsidiary. The move was confirmed after FPG invested £7 million into the project, while additional funding in the region of £100 million is expected to emerge from third party investors in the foreseeable future. Posted by Gaby Hamerton 
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