Intu Properties Plc Completion of Joint Venture for Madrid Xanadu
31 July 2017 - 11:48PM
UK Regulatory
TIDMINTU
31 JULY 2017
LEI: 213800JSNTERD5CJZO95
Regulated Information Classification: Additional regulated information required
to be disclosed under the laws of a Member State of the EU
INTU PROPERTIES PLC AND TH REAL ESTATE ANNOUNCE COMPLETION OF THE JOINT VENTURE
FOR MADRID XanadĂ SHOPPING CENTRE
intu properties plc ('intu') and TH Real Estate - on behalf of its pan-European
investment vehicle, the European Cities Fund - announced on 26 May 2017 that
they were forming a 50/50 joint venture to own Madrid XanadĂș shopping centre in
Spain. The centre was originally acquired by intu in March 2017.
The closing of the transaction was subject to certain completion conditions,
including regulatory approvals, which have now been met, and the transaction
has therefore completed today.
ENQUIRIES
intu properties plc
Susan Marsden Group Company Secretary +44 (0)20 7887 7073
ABOUT INTU
intu is the UK's leading owner, manager and developer of prime regional
shopping centres with a growing presence in Spain.
We are passionate about creating uniquely compelling experiences, in centre and
online, that attract customers, delivering enhanced footfall, dwell time and
loyalty. This helps our retailers flourish, driving occupancy and income
growth.
We own many of the UK's largest and most popular retail destinations, including
nine of the top 20, with super regional centres such as intu Trafford Centre
and intu Lakeside and vibrant city centre locations from Newcastle to Watford.
We are focused on four strategic objectives: optimising the performance of our
assets to provide attractive long term total property returns, delivering our
UK development pipeline to add value to our portfolio, leveraging the strength
of our brand and seizing the opportunity in Spain to create a business of
scale.
We are committed to our local communities, our centres support over 120,000
jobs representing about 4% of the total UK retail workforce, and to operating
with environmental responsibility.
Our success creates value for our retailers, investors and the communities we
serve.
END
(END) Dow Jones Newswires
July 31, 2017 09:48 ET (13:48 GMT)
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