British property company Secure Income REIT has purchased the SMG-managed Manchester Arena, site of a deadly suicide bombing in 2017 that killed 21 people and injured scores more, IQ Magazine first reported.
Property management firm Secure Income REIT has agreed to purchase the 21,0000 seat arena, alongside several other hospitality assets, in a deal worth £436 million, roughly $607 million USD. The building is currently managed by American firm SMG, which has a long-term lease for the facility.
Secure Income REIT ( which stands for “real-estate investment trust”) – owns a number private hospital and hotels as well as two popular theme parks: Alton Towers and Thorpe Park. The arena had previously been owned by Mansford, a U.K. private equity firm.