CPG and the Centro Retail Group went into trading halts yesterday morning ahead of the announcement of another debt extension.
But with Centro tipped to get a reprieve from bankers owed $2.3 million, the market was preoccupied with speculation about shopping centre sales.
Centro has so far managed to keep them under wraps, with few details known in the market. But with Jones Lang LaSalle directing the sales, they are understood to be in NSW, Queensland and South Australia.
The market is tipping a sale in one line, but if that proves not the case they will go to private investors -- likely to be from Melbourne.
The sales will be a precursor to more sell-downs across both its Australian and US portfolios.
Centro controls almost 130 Australian properties with a total value of $9.5 billion. The majority are supermarket-based centres in the retail sector known as neighbourhood centres. One of the sales is expected to be the group's Southport centre on the Gold Coast.
Jointly owned by Centro Retail Trust and Centro Australian Wholesale fund, it is expected to fetch around $75 million.
CNP Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
