Hammerson sells UK retail parks to Brookfield: Reuters

Hammerson has sold seven retail parks to Canada's Brookfield Asset Management for more than $459 million, marking the mall operator’s exit from the UK retail parks sector, Reuters reported.

Hammerson has sold seven retail parks to Canada’s Brookfield Asset Management for more than $459 million, marking the mall operator’s exit from the UK retail parks sector, Reuters reported. The divestment will help Hammerson shore up its finances after it reported a loss of 1.7 billion pounds for 2020 and issued a longer-term debt warning, as the coronavirus crisis knocked the value of malls.

Source: Reuters