British REIT, Pension Fund To Develop £64M Mall

Law360, New York (December 2, 2011, 3:47 PM EST) -- A leading British real estate investment trust and that country's second-biggest pension plan are teaming up to transform a small outlet mall in the southern coastal region of Hampshire into a £64 million ($100 million) shopping center development, the companies announced Friday.

British Land Company PLC, one of England's biggest REITs, and the Universities Superannuation Scheme Ltd., a retirement fund for college teachers, said half of the 300,000 square feet at the planned Whiteley Shopping Centre is already rented.

“Whiteley has the success factors we look...
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