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New Plan Exploring Possible Portfolio Sale

NEW YORK CITY-Locally based New Plan Excel is "exploring possible opportunities" in Australia involving a number of properties in its portfolio. Multiplex Group confirms to the Australian Stock Exchange that it is in negotiations for what could be a $1 billion deal.

By Barbara Jarvie | Updated on April 14, 2005

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NEW YORK CITY-New Plan Excel Realty Trust Inc. based here confirmed reports that it is exploring possible opportunities in Australia involving a number of its community and neighborhood shopping centers. The company issued a statement saying that “no agreement regarding any transaction has been reached and there is no assurance that any transaction will be consummated.” A company spokesperson tells GlobeSt.com the retail REIT had no additional comment and intends to comment further on or respond to questions regarding a possible transaction only if and when a definitive agreement is entered into and an announcement is made.

In a statement to the Australian Stock Exchange, Multiplex Group said it had “held discussions US REIT regarding a possible transaction involving a portfolio of retail assets within the US.” An Australian published report says the deal involved nearly 100 shopping centers and was worth approximately $1 billion.

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