Westfield Group Discusses Partnership With U.K. Mall Owners
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Westfield Group is in talks to become a partner in a south London shopping mall with co-owners who may default on a loan for the property after the main office tenant moved out.
Irish Bank Resolution Corp.’s private clients, who bought a 50 percent stake in the Whitgift Centre in 2005, may miss repayments on a 171 million-pound ($227 million) loan used to make the purchase, the Dublin-based bank said in a report to investors obtained by Bloomberg News. Westfield may redevelop the site in the borough of Croydon, though IBRC’s clients are also discussing a partnership with other companies, the bank said in the report, without identifying them.