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National Australia Bank buys 35pct stake in Area Property Partner

Posted on 09 March 2011

From Bloomberg: National Australia Bank Ltd., the nation’s fourth-largest lender, bought a 35 percent stake in William Mack’s Area Property Partners as the U.S. firm seeks funding to expand its global real estate investments.
Mack, chairman of New York-based Area, and Lee Neibart, chief executive officer, will remain in charge of all investment decisions, the real estate fund manager said in a statement. Terms of the agreement weren’t disclosed……………………………………….Full Article: Source


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