30.12.2013 - Super Fund in $494mln UK mall purchase
Superannuation giant AustralianSuper has spent $494 million to acquire a half stake in London's The Centre: MK Mall, blazing the trail for homegrown superannuation funds to invest in offshore property. In its first direct property investment, the $65 billion fund acquired 50 per cent of the 400,000sq m centre with Hermes Real Estate Investment Management, which acted on behalf of the BT Pension Scheme. AustralianSuper's head of property Jack McGougan said the asset had huge growth potential...............................................Full Article: Source
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