Issue 2012 July 03rd

This issue was created on 2012-07-03 14:00:00

  • Turkish malls snapped up by private equityJuly 3, 2012
Retail property specialist Redevco has sold its Turkish business to US private equity firm Blackstone as part of its exit from emerging markets to focus on key markets in western and central Europe. The sale covers the 53,000 sq m Gordion Shopping Centre in Ankara; the 33,000 sq m Erzurum Shopping Centre in Erzurum and the 19,000 sq m Magnesia Shopping Centre in Manisa. The first two were opened in 2009 and Magnesia Shopping Centre opened to the public last week. The transaction also includes development land in Manisa and Edirne.
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