Kennedy Wilson, a US based investment company has reportedly acquired the Britannica Shopping Center fund, a retail portfolio of eight shopping centers, from Grant Thorton.
The total transaction amounts to £250 million (approx. €292 million). The Britannica portfolio, previously managed by CBRE Global Investors, collapsed into administration last September after accumulating £365 million (approx. €426.7 million) of debt.
The portfolio consists of The County Square in Ashford, the Gates in Durham, the Rivergate center in Irvine, Swangate in Wellingborough, the Spindles and Town Square centers in Oldham, the Haymarket in Leicester and the Strand in Bootle.
Source: Coady Supple