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Mall owner disposes of four sites

first_img KCS-content whatsapp whatsapp Monday 16 August 2010 8:01 pm Show Comments ▼ Sharecenter_img THE Mall Fund, a major investor in shopping centres in the UK, yesterday offloaded four sites for £135.9m.The fund, set up by Capital & Regional and Aviva Investors in 2002, sold the shopping centres to clients of Rockspring Property Investment Managers as part of its drive to cut debts.The Liberty 2 Shopping Centre in Romford was sold along with the Eastgate Shopping Centre in Gloucester, the Marlands Shopping Centre in Southampton, and the Howgate Centre in Falkirk.They were valued at £128.1m at the end of June and sold for six per cant above that figure, comfortably beating analyst expectations.Capital & Regional and Aviva last month obtained consent from investors and bondholders to restructure £1bn of loans held by The Mall Fund. It must now cut the fund’s loan-to-value ratio to 65 per cent in 2014 from the current 80 per cent.Other investors in The Mall Fund include the Prudential, Isis Property Asset Management, ING Real Estate, Scottish Widows, Hermes Real Estate, F&C Asset Management, Arlington Property Investors, Sparinvest and pension fund APG.The sale reduces the number of centres the Mall Fund owns to 12. Its most recent project was a £66m development in Blackburn that opened at the end of July. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndoBetterBe20 Stunning Female AthletesBetterBeUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoWork from Home | Search AdDo You Speak English? Work a USA job from home in United StatesWork from Home | Search AdUndoGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveUndoNext RefinanceThis Is Why The Roy Rogers Museum Has Been Closed For GoodNext RefinanceUndoNinjaJournalistAdvertisement 25 Cute Baby Animals That Will Melt Your HeartNinjaJournalistUndo Mall owner disposes of four sites More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Tags: NULLlast_img

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