LaSalle Investment Management Inc. agreed to acquire intu Bromley from intu properties plc (LSE:INTU), Aviva plc (LSE:AV) and London Borough of Bromley for £240 million on August 10, 2016. A contract is exchanged and deal terms revised on October 25, 2016. Under the terms, intu properties plc will sell 63.5% stake and Aviva plc will sell 21.5% stake in the property for approximately £180 million to Alaska Permanent Fund.

London Borough of Bromley will retain its 15% stake. The centre will be managed by LaSalle Investment Management Inc. on behalf of Alaska Permanent Fund. Jeff Harris, David Wright, Iona Stevenson and Mohammed Imran of BDO LLP acted as accountant and provided due diligence, PricewaterhouseCoopers LLP acted as account and Cushman & Wakefield Corporate Finance Limited acted as financial advisor for intu properties plc.

The deal is expected to close by the end of year. Cushman & Wakefield was appointed by intu and Aviva in March to sell the mall. Lunson Mitchenall consulted LaSalle Investment Management in the transaction.

HSBC Bank Plc acted as financial advisor for intu properties plc. Rhodri Davies of CBRE acted as the advisor in the transaction.