Wednesday 2 January 2008

Centro to put its cards on the table

Centro Properties Group is expected by early next week to declare the shopping centres it is looking to sell in its $2.6 billion Centro Australia Wholesale Fund. Centres in the region include Roselands, Bankstown, Seven Hills and Penrith.

Centro's board is expected to outline the options it will explore as it prepares a strategies plan to present to the group's lenders by February 15 to refinance a $3.9 billion short-term debt following the global credit crunch.

One player said in the Australian Financial Review that the Australian fund represented "the opportunity of a lifetime" as very few retail portfolios of any size had been available in the past few years.

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