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Rockspring buys up RBS assets

Property fund manager Rockspring is set to buy a portfolio of UK industrial properties from taxpayer-owned Royal Bank of Scotland, in one of the first deals which will take distressed assets from a UK lender. A host of property companies are talking to UK banks to try to either buy or form joint ventures for properties that have defaulted on loans, although few deals have been made so far as the big banks sift through loan books and establish large workout teams.