This article is from the Australian Property Journal archive
THE Centro Retail Trust has repaid the outstanding debt related to the Centro Shopping America Trust portfolio.
CER’s 95% interest in the Galileo America LLC facility was $US36.3 million using a combination of proceeds from assets sales and existing cash reserves within the CSF portfolio.
Since July, CER has sold seven assets in the United States worth $US97.8 million with CER’s share being $US93.4 million.
· Mount Houston Square Houston, Texas
· Queen Plaza Southington, Connecticut
· Merchants Exchange Marietta, Georgia
· Bulloch Plaza Statesboro, Georgia
· Springhurst Towne Center Louisville, Kentucky
· Harvest Place Stevensville, Michigan
· Plaza 662 Kenneth City, Florida
CER said the full repayment of this loan removes the remaining restrictions that existed under this facility including the ability for net proceeds from any future asset sales within CSF to flow from CSF to CER.
Australian Property Journal