In December, 2000, Fog Cutter Capital Group organized and led a group of investors to purchase all of the outstanding capital stock of Bourne End Properties PLC, an England-based specialist investor in retail property. At the time, Bourne End had approximately $245.1 million of assets and $177.9 million of debt related to 15 properties.

Fog Cutter made its investment through its wholly owned subsidiary, BEP Islands Limited, along with partners Merrill Lynch (Jersey) Holdings Limited (a subsidiary of Merrill Lynch & Co., Inc.) and Greenbau Estuary Limited (an affiliate of Catalyst Capital LLP, formerly known as The Greenwich Group International).

Prescot Centre is the seventh property sold since Fog Cutter and its partners acquired Bourne End. Based on square footage, these sales represent 27% of the original Bourne End portfolio. Fog Cutter stock stood at $2.39 per share in early afternoon trading Tuesday, up close to $0.15 on the day and right in the middle of its 52-week range.