Bought for $300m, sold for $180m – AMP feels mall pain
Nick LenaghanProperty editor
AMP Capital, the fund management arm of AMP, is selling shopping mall stakes at steep discounts worth hundreds of millions of dollars to meet investor redemptions, as it prepares to quit the investment platform.
In one recent deal, the AMP-owned fund manager sold a half-stake in a Perth mall for about $180 million late last year, after acquiring it six years earlier for about $300 million.
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