Hermes is the third institution to invest in The Mall Fund this year. The Prudential invested £31.2 million ($54 million) in April and ISIS Property recently invested £115 million ($200 million) in the form of The Castle Mall, Norwich in September. This latest transaction has diluted Capital & Regional's share of the Mall fund from 36.7% to 34.7%.
The Mall Fund currently has assets of approximately £1.17 billion ($2 billion) in 15 shopping centres throughout the UK covering over 4.7 million sf of retail space. The Mall Fund is on track to achieve its goal to grow assets to £2 billion ($3.5 billion).
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
