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CPPIB invests £250M in intu properties

31 July 17 - RE+D Magazine
CPPIB invests £250M in intu properties

COMPANIES

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
Canada Pension Plan Investment Board (CPPIB) today announced that its wholly owned subsidiary,

 

CPPIB Credit Investments Inc., has agreed to provide a £250 million subordinated facility to intu properties plc (intu).

The subordinated facility will support intu’s corporate business plans and is indirectly secured by intu Trafford Centre in Manchester, U.K. Manchester’s intu Trafford Centre is a 1.9-million-square-foot super-regional, prime shopping centre, and one of the U.K.’s top five shopping centres, counting many leading global retailers among its tenants.

The property houses more than 230 stores, as well as more than 65 catering and leisure units, across its four arcades and two floors.

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