Schnuck’s Sells Interest in 33 Shopping Centers

Desco Group, the real estate company controlled by the Schnuck family, has sold 73% interest in a portfolio of 33 shopping centers anchored by a Schnuck’s grocery store, the retailer said.

ST. LOUIS — Desco Group, the real estate company controlled by the Schnuck family, has sold 73% interest in a portfolio of 33 shopping centers anchored by a Schnuck’s grocery store, the retailer here said. Australia-based Macquarie CountryWide is buying a 60% interest in the properties and Regency Centers, Jacksonville, Fla., is acquiring a 13% stake, in a deal worth around $400 million, the companies said. Desco will retain 27% ownership and will continue to manage and lease the properties.

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