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50% stake In Morley Galleria up for grabs

50% stake In Morley Galleria up for grabs

The centro group announced today it is offering up to 50 per cent stakes in Centro Galleria morley in Perth, The Glen in Melbourne and Colonnades in Adelaide. Centro said the proceeds of any co-ownership deals would be used to pay down debt.

centro galleria morley sale stake

Centro Morley galleria for sale

This deal is not related to the recently opened “coventry markets” which has just opened next door  to centro galleria, but a step taken  to bring down the debt of the australian arm  of the centro group , that took a beating during the GFC.

Centro Properties Group, commonly known as ‘Centro’, is an Australian company which provides retail property ownership and management services. It is a listed company with securities traded on the Australian Securities Exchange. The multinational company owns and operates shopping centres in Australia, United States and New Zealand. – ( ref- http://en.wikipedia.org/wiki/Centro_Properties_Group )

Centro Properties Group (ASX: CNP)

Centro is a stapled security listed on the Australian Securities Exchange, specialising in the ownership, management and development of shopping centres in Australasia, as well as managing unlisted investment funds.

Its latest announcement can be downloaded here – 13 April 2012 CRF – Strategic Review Update- Download

For more information go here – http://www.centroretailaustralia.com.au

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