Hammerson exits the retail parks sector

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20 May 2021 à 14h05

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Publication: 20 May 2021 à 14h05

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20 May 2021 à 14h05

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Publication: 20 May 2021 à 14h05

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Hammerson has sold all 7 retail parks in the U.K., covering 205,000 sqm GLA, to Canadian group Brookfield Asset Management in a €385-million deal.

This is a route out of debt (€2.5 billion in 2020), after issuing a warning about longer-term borrowing. In February, URW said that it will sell €3.2 billion of assets in Europe and in the U.S. by 2022. “U.S. exposure will be zero” in the long run. In 2018, it took over Westfield in a €21 billion-deal. In 2020, URW’s rents fell by 26% to €

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