A little-known British family has burst onto the country’s property scene in one of the biggest deals of the year so far.
Telereal, the real estate focused investment and services company belonging to family-owned William Pears Group, has purchased Trillium from Land Securities Group for €835 million.
Trillium, the market leader in property partnerships, has been sold for roughly half the price Land Securities was hoping to secure for the asset when it put it up for sale early last year. The two new companies will bring together combined revenues of €1.1billion.
WPG was formed in 1952 by Bernard Pears and his son Clive, and is still 100% family owned and managed. Brothers David, Trevor and Mark Pears run the business and are believed to worth €1.7 billion.
Together with the Pears Family Trusts, WPG owns properties and investments with a value of around €7 billion. The group’s original activity was commercial property development, but it expanded into property investment in the mid-1960s.
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