Articles > Newspapers > International Newspapers, Major Markets > TendersInfo news wires > November 2009

Article: United Kingdom: Great Portland Has $617 Million to Spend After Istithmar Deal.

Article from:
TendersInfo
Article date:
November 12, 2009
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Byline: babalu03

Great Portland Estates Plc has about 370 million pounds ($617 million) to spend on acquisitions, following the purchase of two London properties announced today, Chief Executive Officer Toby Courtauld said.

The U.K. investor and developer of commercial buildings paid Istithmar World PJSC 10 million pounds plus a share of any profits for a property on Regent Street and another near Oxford Street. The Dubai sovereign wealth fund paid about 80 million pounds for the buildings two years ago.

There s plenty of capacity to do buying, Courtauld said in a telephone interview today in which he gave the estimate. There is value out ...

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