The Mall Fund, managed by UK property asset manager Capital & Regional, announced that it has agreed to sell three properties to Carlyle Group for £286mln (EUR 362mln). The three Mall shopping centres in Chester, Epsom and Edgware were valued at £339.8mln at the end of March 2008. The price agreed represents an initial yield of 6.0%. The proceeds from the sale, which will complete in early July, will be available to reduce gearing in the fund.
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