NORWICH, UK-Infrared European Active Real Estate Fund has closed the acquisition of the Castle Mall Shopping Centre situated in Norwich for GBP 77.3 million. The company has purchased the retail property from The Mall Fund, managed by Capital & Regional.
The price was in line with the valuation of the retail center in June 2012. The Mall Fund will have approximately GBP 577 million of debt following the sale and related debt repayments and this will meet its 2014 amortization goal under its CMBS. For the full story, go to PropertyMall .
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