LONDON (dpa-AFX) - Real estate firm Hammerson plc (HMSO.L) announced the completion of the acquisition of Grand Central shopping centre in Birmingham.
Separately, Hammerson has today entered into a 50:50 joint venture agreement with Canadian Pension Plan Investment Board or 'CPPIB' for ownership of Grand Central, with Hammerson acting as asset manager on behalf of the joint venture.
The joint venture pricing terms are equivalent to the terms for Hammerson's acquisition of the shopping centre. Following completion of the joint venture, Hammerson's total acquisition costs for 50% of Grand Central will be 175 million pounds.
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