British Land concentrates a lot of its assets in the retail world
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Property investment group British Land is to sell its residential portfolio in a multi-million pound deal.
The UK's largest property company by assets agreed to sell the properties to Insight Investment for £300m ($523.3m).
A subsidiary of British Land will provide on-going asset management services for the portfolio, it added.
British Land chief Stephen Hester said the sale was part of the group's ongoing review of its portfolio to identify non-core assets for disposal.
"We look forward to a fruitful partnership and helping them (Insight Investment) to build a leadership position in this sector," Mr Hester added.
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