OAK BROOK, IL-Melbourne-based Centro Properties Group has sold a majority interest in 25 of its shopping centers in the US to a subsidiary of Inland American Real Estate Trust Inc. for $471 million. The Inland subsidiary has bought the majority stake in the centers in 13 states for $161 million.
Centro and Inland also have got hold of a $310-million mortgage from J.P. Morgan Chase & Co. and Goldman Sachs Group Inc. on 24 of the shopping centers. For the full story, go to Wall Street Journal.
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