LONDON-Simon Halabi's Time Square, a 126,000-square-foot retail center in Sutton, will be listed on the market for sale by its LPA receivers. The property went into the hands of Capita, the designated servicer of a GBP 46-million mortgage, in April 2009.
Halabi purchased the property in 2005. The balance amount of the loan obtained by Halabi from Merrill Lynch is said to be GBP 44.7 million. The center is leased to various tenants including BHS, WH Smiths, TK Maxx and TJ Hughes. For the full story, go to Property Week .
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