Emerging markets property developer Plaza Centers has announced that its joint subsidiary, EPN, has completed its first investment in the US, with its $116 mln investment in Macquarie DDR Trust (MDT).
Emerging markets property developer Plaza Centers has announced that its joint subsidiary, EPN, has completed its first investment in the US, with its $116 mln investment in Macquarie DDR Trust (MDT).
MDT is an Australian publicly traded trust which holds and manages two US REIT portfolios totalling 78 retail properties located across 23 states of the US.
EPN will hold an approximate 48% ownership interest in the Trust, becoming its largest unitholder, and will appoint its representatives to be the majority members of the board of the Responsible Entity of the Trust.
