19 May 2014 09:19
19 May 2014
CAPITAL & REGIONAL PLC
COMPLETION OF DISPOSAL OF LÜBECK RETAIL PARK, GERMANY
Further to its announcement on 9 May 2014, Capital & Regional plc today announces the completion of the sale of The Plaza Center, Lübeck by its German Joint Venture to clients of Invesco Real Estate. As a result, the cash consideration of €47.9 million has now been received by the German Joint Venture.
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For further information:
Capital & Regional: | Tel: 020 7932 8000 |
Hugh Scott-Barrett, Chief Executive |
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Charles Staveley, Group Finance Director |
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FTI Consulting | Tel: 020 7831 3113 |
Stephanie Highett Richard Sunderland Will Henderson Aleka Bhutiani |
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Notes to editors:
About Capital & Regional plc
Capital & Regional is a specialist property company with a strong track record of delivering value enhancing retail and leisure asset management opportunities across a £1.2 billion portfolio, primarily in town centre shopping centres.
Capital & Regional founded The Mall in conjunction with Aviva Investors. Capital & Regional acts as Property and Asset Manager for the Mall and holds 29.3% of this fund.
Capital & Regional & Ares Management (formerly known as AREA Property Partners) each hold a 50% interest in a German retail property portfolio which is managed by Garigal Asset Management GmbH, in which Capital & Regional holds a 30% interest.
Capital & Regional also has a number of other joint ventures.
For further information see www.capreg.com
Capital & Regional (CAL)