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The shock of the UK’s vote to leave the European Union on June 23 had barely sunk in when panic began to grip the country’s commercial property market.
A number of retail funds suspended redemptions as market participants swapped fears of steep declines in asset prices. Spurred on by a sharp drop in the pound, foreign investors, including US private equity funds, were said to be circling, anticipating a deluge of forced selling at cut-down prices.
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