Slough Estates puts US business up for sale

Fri, 17 Nov 2006

Slough Estates, the UK property and investment development company, has put its US arm up for sale as it prepares to convert itself into a real estate investment trust (REIT). The US business provides office space for biotechnology companies based in San Diego and San Francisco. It has assets worth £900m. Alexandria Real Estate Equities and Biomed have both been tipped as potential buyers.