CFS Retail Property Trust (ASX:CFX) has sold its 50 per cent interest in The Myer Centre, Brisbane to IPST for $366 million.
CFS says the proceeds from the sale will be used in a range of investment and capital management activities and will in part fund the re-development of Chadstone Shopping Centre in Victoria.
CFS has also announced a unit buy-back of up to $150 million.
CFS Retail Property Trust posted a net profit of $201.7 million in the 6 months to Dec 2011.
