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U.S. pension fund buys European Shopping Center for $446 million

• Reuters

A U.S. pension fund has paid 280 million pounds to buy a shopping centre 50 miles west of London from a property firm owned by the Duke of Westminister, one of Britain's richest men.

The deal for the one million square foot Festival Place mall built in Basingstoke in 2002 is the largest mall deal in almost two years in a UK market hit by government austerity measures.


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