LEICESTER, UK—The Crown Estate has partnered with a Chinese investment firm to acquire a retail center here $578 million (345.5 million pounds).
The deal comes as increased demand is driving up prices, says Bloomberg News.
The Crown Estate, the property company that generates income for Queen Elizabeth II, and Gingko Tree Investment Ltd., a unit of the agency that manages China's foreign exchange reserves, will each own half of Fosse Shopping Park, Bloomberg said, citing a statement released by the firms Wednesday. The UK company will manage the property, which is located about 100 miles northwest of London.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
