London Shopping Center Switches Hands In £80M Deal

Law360, New York (December 3, 2013, 5:54 PM EST) -- Delancey Real Estate Asset Management Ltd. and Dutch pension fund APG Strategic Real Estate Pool have formed a joint venture to purchase London's Elephant & Castle Shopping Center from Key Property Investments for £80 million ($131.3 million) in cash, the companies said Tuesday.

The move will give Delancey and APG a historic London shopping and theater center that in recent years has lost some of its luster, becoming overwhelmed by traffic and undermined by poor quality development.

However, Elephant & Castle already has renovation plans in...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.