The media releases on this website relate to ISPT and were issued prior to the merger with IFM Investors. They are provided for historical reference only. They may not reflect IFM’s current views, operations or position.
ISPT acquires balancing 50% interest in Karingal Hub
ISPT has exchanged contracts to acquire Federation Centre’s 50% interest of Karingal Hub, Frankston, Victoria, bringing our ownership to 100%. Settlement is scheduled for 15 June 2015.
In July 2013, ISPT acquired an initial 50% interest in Karingal Hub, a sub regional shopping centre, from managing co-owner Federation Centres.
Sam Curry, ISPT’s General Manager, Retail Services, said: “Karingal Hub is well situated on the Frankston-Cranbourne Road and connected to the Peninsula Link Freeway. The Centre has a strong convenience base including fashion, homewares and fresh food, and includes Star Zone Karingal, an entertainment precinct offering Village Cinemas, restaurants and eateries”.