Completion of disposal of Lubeck Retail Park

RNS Number : 4472H

Capital & Regional plc

19 May 2014

 



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:  [phone]
Hugh Scott-Barrett, Chief Executive
Charles Staveley, Group Finance Director
FTI Consulting	Tel: [phone]
Stephanie Highett Richard Sunderland Will Henderson Aleka Bhutiani

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

 

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