Hammerson sells retail parks to cut exposure to Brexitland
The group raises R7.8bn as it shifts its focus to Europe and to other types of assets
21 February 2020 - 10:09
UK and Europe shopping centre owner Hammerson has clocked up the largest sale of UK property in the past decade, letting go of seven retail parks as it decreases its exposure to Brexit-hit Britain.
Hammerson said on Friday it had sold the assets for £400m (R7.8bn) to Orion Real Estate Fund as part of its strategy to exit the retail parks sector over the medium term, to focus on flagship assets, premium outlets and city quarters in major European cities...
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