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 XanadÚ 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 Xanadú 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.