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July 23, 2019

EXCLUSIVE: New Investor Buys Into £120M Distressed Shopping Centre Portfolio As Shareholders Warned Of Wipeout
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A South African investor has taken a stake in a company that owns a trio of distressed UK shopping centres, and is working on a plan to turn the assets around, Bisnow can reveal.

A company controlled by Johannesburg-based businessman Franz Gmeiner has taken a 29% stake in New Frontier Properties, a company listed in South Africa and Mauritius.

New Frontier has seen the value of its assets plummet in the past 12 months, with the three centres it owns now worth less than the debt secured against them. In its most recent update to shareholders, New Frontier said they are likely to be wiped out and not receive any value for their shares.

EXCLUSIVE: New Investor Buys Into £120M Distressed Shopping Centre Portfolio As Shareholders Warned Of Wipeout

But Gmeiner told Bisnow he plans to try to refinance the portfolio and improve its income."I'm a value investor and I've bought distressed properties before this," he said. "They are prominent spaces in their towns, and we can give them a fighting chance, but they…

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Human trafficking is a commercial real estate problem. 

Human traffickers, who are exploiting millions of victims globally for sex or labor, typically prey on individuals from the secrecy of hotels, strip malls, massage parlors and other commercial properties where landlords and property owners either miss the signs or ignore the problem.

Advocates across the country are trying to change this dynamic, taking down the crime by disrupting the crime scene and holding property owners or managers legally responsible.  “Property owners and landlords are the key to ending storefront trafficking in Texas,” Children at Risk Senior Staff Attorney Jamey Caruthers said.  Texas…

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