Capital & Regional plc, a co-investing property asset manager, said its Mall Fund has attracted sixteen new investors, bringing in a total of £60.5m, inclusive of a 5% premium, within the last month.
Clients of Scottish Widows Investment Partnership & ING Real Estate Investment Management have agreed to invest in The Mall Fund, bringing the total number of investors to 25, sharing a total net asset value in the region of 950 mln stg.
The Mall has acquired three new shopping centres since the beginning of 2004 and now has gross assets of over 1.60 bln stg in 18 shopping centres, the company said in a statement.
The Mall is the brand name of The Mall Fund, the investment vehicle established by clients of Morley Fund Management and Capital & Regional in 2002, to own and operate community shopping centres throughout the UK.
Source: Fraaman News