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Brown & Babcock Sells Share of U.S. Portfolio

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Babcock & Brown Limited (BNB) announced the sale of 48.9% of its US regional shopping mall portfolio to Oxford Properties Group. The investment banker's joint venture with the GPT Group (GPT) will keep ownership of 51% of the portfolio.

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The stake in the recently acquired Gregory Greenfield & Associates (GGA) portfolio of eight regional malls, was sold for an undisclosed price.

Babcock & Brown said it would retain the asset management platform acquired under the GG&A acquisition, and would continue to manage the portfolio on behalf of the JV and Oxford.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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