Capital & Regional, the UK co-investing property asset manager, has announced that John Gately is stepping down as managing director of the firm's retail parks business.
Capital & Regional, the UK co-investing property asset manager, has announced that John Gately is stepping down as managing director of the firm's retail parks business.
The retail parks segment which accounts for over 16% of Capital & Regional's portfolio is managed by The Junction fund. Capital & Regional said Gateley has 'decided to pursue opportunities' outside the company. He will leave his post at end-March this year. From immediate effect The Junction team will report to executive director Ken Ford.
Capital & Regional said the fund was in compliance with its loan-to-value (LTV) covenants at end-December 2008. The monthly unit price valuation for December, together with a trading update for the group, will be announced on 12 January 2009.
Capital & Regional owns 27.3% of the units in The Junction.
