The property sold was Bridgewater Retail Park, a 97,000-sf shopping center located in Bridgewater, England. Bridgewater is located 35 miles south of Bristol in the southwest of England. The center's space is broken into nine retail units.

Fog Cutter organized and led a group of investors to purchase all of the outstanding capital stock of Bourne End in December 2000. At the time of the acquisition, Bourne End had approximately $245.1 million of assets and $177.9 million of debt. Its real estate assets consisted of 1.7 million sf in 15 shopping centers.

With this latest sale, Bourne End has now repositioned and sold off 13 of its 15 properties, or 77% of the square footage in the original portfolio. To date, Fog Cutter's share of the after-tax earnings from Bourne End has been approximately $4.6 million. Bourne End currently owns two remaining town shopping centers located in England. The remaining centers are 74,000 sf and 330,000 sf.