Transactions - SEPTEMBER 30, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Blackstone JV sells English mall for £105m

by Andrea Waitrovich

The Blackstone Group and Catalyst Capital have sold a 398,000-square-foot mall in Blackpool, England, for £105 million ($161.7 million) to Mauritius-based New Frontier Properties.

New Frontier Properties began a major drive into U.K. shopping center investments with two assets from F&C REIT earlier this year.

The firm bought the 430,000 square foot Cleveland Center in Middlesborough for £90.2 million ($136.7 million) and the 385,000-squre-foot Coopers Square in Burton-on-Trent, Staffordshire, for £85.32 million ($129.3 million).

The deal was the United Kingdom debut for a company listed in Johannesburg and Port Louis.

New Frontier is backed by South African REIT Rebosis Property Fund, which owns a controlling stake in the company.

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy