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Wednesday, January 02, 2008

CRE: Centro Seeks Buyers

by Calculated Risk on 1/02/2008 12:13:00 AM

From Bloomberg: Centro Puts Itself Up for Sale as Debt Deadline Looms

Centro Properties Group, facing a Feb. 15 deadline to refinance A$3.9 billion ($3.4 billion) of debt, will consider offers for all its assets including 700 U.S. malls.
Centro's largest U.S. shopping centers are Independent Mall in North Carolina and Cortlandt Towne Center in New York.
This sale will give us an idea of how far CRE prices have fallen.