Centro Properties Expected to List $4 Billion Portfolio

CENTRO Properties Group is expected to list for sale a $4 billion portfolio of prime retail assets, as its bankers call for the company to settle its debts.

It’s expected Perth’s Galleria complex, and The Glen, in the south-east Melbourne suburb of Glen Waverley will be two of the 40-plus assets offered for sale.

Lend Lease, Colonial First State Global Management and AMP Capital Investors are expected to be in the mix of prospective purchasers, though the sale might also be on an individual shopping centre basis.

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Charter Hall Pays $32.5 Million For Bendigo Shopping Centre, Victoria

SYDNEY based fund manager Charter Hall has paid $32.5 million for the Lansell Plaza near Bendigo in regional Victoria. The purchase, from the Centro Group is expected to settle at the end of January. According to the AFR which reported the deal, the shopping centre (black and white image from the National Gallery of Victoria)

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LPT Sector Now a Riskier Deal

Former Mirvac managing director Robert Hamilton should be patting himself on the back.

In January 2004, the businessman who co-founded the Mirvac development empire 35 years ago, dared criticise what was becoming a growing trend by listed property trusts in Australia – to target property assets internationally, particularly in the United States where high property yields made them attractive, relative to local property asset offerings.

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Centro Sells Rosebud Shopping Centre For $13.14 Million

The beleagured Centro Properties Group has offloaded a shopping centre in the small Victorian coastal hamlet of Rosebud, about 80 minutes south of Melbourne. The Rosebud Shopping Centre sold for $13.14 million, a figure less than its already battered December 2008 book value. Centro listed the Rosebud asset for sale at the same time it

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