17th Oct 2013 06:41
LONDON (Alliance News) - British Land Co PLC Thursday continued to exit its European business, selling its 50% stake in Puerto Venecia Shopping Centre and Retail Park in Zaragoza, Spain, to joint venture partner Orion European Real Estate III C.V. for EUR144.5 million
"I am pleased with the sale of Puerto Venecia which is in line with valuation. We have worked well with Orion to successfully complete and let the scheme and the disposal is in line with our strategy of exiting our European business and halves our European exposure to 1%," British Land Head of Retail Charles Maudsley said in a statement.
By Steve McGrath; [email protected]; @stevemcgrath1
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