Mills, Ivanhoe Cambridge to buy Scotland´s largest retail center for $524.2 million (UK)

The Mills Corp. and Ivanhoe Cambridge agreed to buy St. Enoch Centre, Glasgow, Scotland, for $524.2 million from German real estate firm Deka Immobilien. The parties expect to close the deal in January.

Under the 50-50 venture, Mills will manage the property and get development, leasing and management fees. This is not the first venture between Arlington, Va.

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