Under the terms of the deal Hermes will take a 99% stake in the three larger schemes at Braintree, Castleford, Fleetwood, and will acquire 100% of the equity in the Talke (Jersey) Limited Partnership.

Sean Collidge, executive chairman of Freeport, says: "We are delighted to conclude this transaction with Hermes. Freeport's strategy is to dispose of fully mature assets to recycle capital whilst continuing to develop new Freeport centres, in order to maximise shareholder value."

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
NOT FOR REPRINT

© 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.

Retail