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Mall Fund cuts through debt mountain

The £1.1bn Mall Fund, the UK shopping centre fund managed by Aviva Investors and Capital & Regional, is to repay a further £100m of its securitised debt next month, leaving only £50m more to be paid off by the end of 2014 to meet targets.
By James Wallace
September 26, 2011 | 7:00 P.M.

The latest repayment will be funded by the sale of two shopping centres:  the 430,000 sq ft Cleveland Centre Middlesbrough for £82m and the 170,000 sq ft Alhambra Centre in Barnsley for £26m. Both sites were bought by F&C REIT two weeks ago.

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