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.
