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...
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