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Macquarie CountryWide Trust sell Mid-Atlantic portfolio for US $118.6 million


Macquarie CountryWide Trust (ASX:MCW) announced today it has exchanged contracts to sell its 75 per cent interest in a seven property Mid-Atlantic portfolio for a gross sale price of US$118.6 million. The sale, which is in line with current book value, is being undertaken in conjunction with joint venture partner, Regency Centers Corporation (Regency) and is expected to be completed in early 2008. This follows the sale of the ‘South East Portfolio’ completed in October 2007, for a gross sale price of US$104 million.

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