Vicinity Centres
(ASX:VCX) has announced the sale of four retail assets to affiliates of funds managed by Blackstone and Mirvac Group.
The assets are being offered for a total consideration of $841.4 million and is the second transaction announced in Vicinity’s asset divestment program.
The portfolio sale price is at a 1 percent discount to the combined 31st of December book values of the four assets.
Vicinity’s Chief Investment Officer, Michael O’Brien has indicated in the short term the sale proceeds will be used to repay debt.
Vicinity Centres reported a net profit of $425 million for the 6 months to the end of December 2015
