Kanter Jules nets £310m disposal of retail sites
Legal Week reports
October 15, 2003 at 08:03 PM
1 minute read
West End property firm Kanter Jules has closed the £310m sale of six shopping centres on behalf of REIT Asset management.
Kanter, which this year abandoned merger talks with Manches to pursue an organic growth strategy, is a long-standing adviser to REIT, closing more than £1bn of recent transactions for the client.
The shopping centres were sold to clients of Catalyst Capital which was acting in a joint venture with Bank of Scotland and West Coast Capital.
The six properties are Spindles and Town Square in Oldham; Sunbury Cross, Sunbury; The Strand, Bootle; Rivergate Centre, Irvine; and Saddlers Centre in Walsall. The sites are primarily retail, although Sunbury includes office space.
Kanter Jules partner Simon Kanter said: "We were delighted to continue building on the work we have been doing for REIT and its clients in recent years.
Major deals for clients this active and innovative are always challenging for those members of the firm involved."
Catalyst was advised by Eversheds partner Richard Stephens. REIT's investment portfolio is valued at more than £26bn. It includes offices, retail warehouses, shopping centres, hotels and nursing homes.
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