Assets News

Apollo Real Estate and Portfolio Holdings have bought the Forge Shopping Centre in Glasgow from Resolution Property and the US Teachers' Pension Fund for £100m.

As predicted in Property Week (news, 31 October, p5), the US investors have acquired the 456,000 sq ft (42,363 sq m) centre, which is anchored by ASDA, Littlewoods and a UGC cinema.

Apollo and Portfolio have joined up with asset manager Hark Retail, the company run by former Chesterfield Properties directors David Henderson-Williams and Rob Cossey.

'Resolution and Teachers have made significant strides to improve the tenant mix, and there are many more initiatives we have identified to take the scheme to the next level,' said Portfolio chief executive Paul Parkinson.

Resolution was advised by DTZ, while Apollo and Portfolio were advised by Strutt & Parker

Click here to view the original posting