. please update this article to reflect recent events or newly available information . december 2013 vicinity centres limited trading as vicinity centres type public company traded as asx vcx industry property development property management retail property founded 18 february 1985 1985 02 18 as jennings properties limited . aggregate as crf 14 december 2011 . re branded as vicinity centres 21 october 2015 . headquarters chadstone shopping centre melbourne australia area served australia key people angus mcnaughton ceo peter hay chairman products vicinity centres vcx services retail property ownership and management profit 675.1 million for the full year ended 30 june 2015 1 total assets 22 billion number of employees 1 200 website www.vicinity.com.au vicinity limited trading as vicinity centres vcx and previously known as federation centres and centro properties group merged with novion formally cfsgam is an australian real estate investment trust reit company specialising in ownership and management of australian shopping centres . with approximately 6.9 billion of shopping centres under management . 2 the company is headquartered in melbourne 3 with offices in sydney brisbane adelaide and perth vicinity centres vcx employs over 500 people in australia . 4 listed on the australian securities exchange vcx 5 vicinity centres consists of vicinity limited and its controlled entities which includes vicinity centres trust no. 1 vicinity centres trust no. 2 and vicinity centres trust no. 3 . although separate entities the securities of each are stapled together as vicinity centres to ensure that they are traded as a single interest . the asx ticket code for vicinity centres is vcx . 5 in november 2015 vicinity centres moved its head office to chadstone shopping centre of which they own 50 % the largest shopping centre in the southern hemisphere . its previous head office building on collins st in the cbd remains in use by some of their executives and staff . the sydney office also became a corporate office with the new ceo angus mcnaughton 6 being based in sydney as well as a few other executives from the merged novion . contents 1 history 2 stock return information 3 properties 4 financial performance 5 list of shopping centres 5.1 australian capital territory 5.2 new south wales 5.3 queensland 5.4 south australia 5.5 tasmania 5.6 victoria 5.7 western australia 6 location images 7 references 8 external links history edit the neutrality of this article is disputed . relevant discussion may be found on the talk page . please do not remove this message until conditions to do so are met . december 2013 learn how and when to remove this template message vicinity limited was established on 18 february 1985 under the name jennings properties limited and shares were issued in the same year on the australian securities exchange . in january 1991 jennings properties limited was renamed centro properties limited with the stock being changed across in may 1991 . in september 1997 centro was restructured to become a stapled security structure named centro properties group . centro was a stapled security comprising one unit in centro property trust cpt stapled to one share in centro properties limited cpl . cpt is the owner of centro s interests in the properties and cpl along with its subsidiaries provides management services to cpt . citation needed in september 1999 centro acquired the management rights for prime retail property trust prx and in october 2004 it merged with prime retail group under a court approved scheme with a ratio of 5 prime securities per 1 centro security . throughout the 2000s centro acquired numerous assets ct retail investment trust july 2001 mcs syndication business july 2003 14 international assets located in california august 2003 centro launched its first international syndicate mcs 32 november 2003 kramont realty trust a listed us reit august 2005 usd 1.6 billion centro retail trust was spun off from the main fund august 2005 heritage property investment trust a listed us reit july 2006 usd 4.3 billion new plan excel realty trust a listed us reit february 2007 usd 5.0 billion . galileo funds management may 2007 centro watt joint venture may 2007 after entering the united states market in late 2003 centro acquired redeveloped and renovated a number of mall properties . on 9 may 2006 westfield announced the sale of eight united states shopping centres which it deemed to fit outside its strategic plan which centro subsequently acquired . centro was the fifth largest retail property owner manager in the united states with 682 properties . the oakleigh store was one of the largest available . it had over usd 10 billion worth of property under management . its usa corporate operations were primarily in philadelphia pennsylvania and los angeles . centro in the usa is now independently known as brixmor . centro has no affiliation with brixmor . centro retail trust sold its entire usa assets and platform to bre retail holdings inc. an affiliate of blackstone real estate partners vi l.p. in 2011 . 7 between 2003 and 2007 centro and its managed funds acquired mcs s property syndicate business and substantial portfolios of us convenience shopping centres and operating businesses . on 17 december 2007 centro announced it was continuing to negotiate the refinancing of a 1.3 billion in maturing facilities and had obtained an interim extension until 15 february 2008 of all facilities maturing prior to that date . in addition us joint venture facilities were also been similarly extended . it was speculated that the american based subprime mortgage meltdown was the cause of a decline in lending and credit market problems . 8 while centro also announced they would be solvent until at least february 2008 shares in the group underwent a dramatic decline . 9 applications and withdrawals were suspended from centro s direct property fund dpf and the centro direct property fund international dpfi . the company s difficulties were worsened by the 2008 global credit crunch and by two shareholders class actions claiming up to 1 billion while the company was required to refinance loans of 4.5 billion in december 2008 . 10 on 16 january 2009 centro announced completion with its financiers for a long term refinancing and debt stabilisation agreement . the key features of the refinancing and debt stabilisation included 11 a three year extension on a 3.9 billion of the senior syndicated debt facility . a 1.05 billion hybrid security . extension of the debt facilities within super llc centro s us joint venture investment with centro retail trust cer and cmcs 40 . agreement for the extension of debt facilities for many of centro s managed funds reduced pressure to sell property assets within centro and its managed funds . on 4 november 2010 a process designed to allow cnp and its managed funds to jointly evaluate these expressions of interest through a formal competitive market process commenced 12 on 1 march 2011 cnp and its managed funds announced its proposed restructure including 13 us assets sale centro and its managed funds entered into a binding stock purchase agreement with bre retail holdings inc an affiliate of blackstone real estate partners vi l.p. blackstone to sell all of their us assets and platform for an enterprise value of approximately us 9.4 billion ; headstock debt restructure centro has agreed with holders of approximately 73 % of centro s senior debt senior lender group to progress a creditors scheme of arrangement to effect the cancellation of all centro s senior debt in consideration for substantially all centro s australian assets . the senior lender group has agreed that 100 million would be made available for ordinary security holders and other stakeholders junior to the senior lenders ; and discussions of australian funds amalgamation centro has entered into discussions with its senior lenders centro retail trust cer and other australian managed funds with a view to aggregating their respective portfolios to create a listed fund amalgamated fund owning a retail property portfolio of high quality australian regional and sub regional shopping centres . centro s share of the amalgamated fund would be distributed to its senior lenders as part of the scheme of arrangement described above . on 29 june 2011 the sale of the us portfolio was completed . in a landmark australian legal decision 14 15 in june 2011 the federal court of australia found that eight executives and directors of centro breached the corporations act by signing off on financial reports that failed to disclose billions of dollars of short term debt . the legal action was commenced by the australian securities and investments commission who sued andrew scott ex ceo brian healey former chairman paul cooper current chairman romano nenna ex cfo former non executive directors peter wilkinson sam kavourakis and peter goldie and jim hall who remains on the board . 16 a class action from investors seeking a 200 million in damages due to alleged deceptive conduct and breaches of continuous disclosure obligations has commennced in the federal court against centro properties group centro retail group and their auditors pricewaterhousecoopers and relate to conduct from august 2007 to february 2008 . 17 at a series of meetings on 22 november 2011 cnp securityholders convertible bondholders hybrid lenders and senior lenders as well as centro retail trust cer securityholders voted in favour of the restructure of centro and its managed funds . 18 the supreme court of new south wales approved the senior lenders and hybrid lenders schemes of arrangement necessary to effect the restructure . cnp s 2.7 billion senior debt which matured on 15 december 2011 was cancelled in return for the transfer to senior lenders of substantially all of cnp s australian assets and interests . cnp securityholders convertible bondholders and hybrid lenders received their relevant proceeds allocated as follows 5.03 cents per cnp security or 48 925 082 in total to cnp securityholders ; 5 cents in the dollar or 21 074 918 in total to convertible bondholders in exchange for redemption of their convertible bonds ; and 20 000 000 in total to secured hybrid lenders in return for the cancellation of their debt . centro properties group has since changed its name to cnpr and is in the process of being wound up . cnp managed funds including crt cawf and dht aggregated their respective portfolios to create the listed australian retail property trust crf . crf was formed by the stapling of crl crt cawf and dht through schemes of arrangement that were approved by the supreme court of new south wales on 1 december 2011 the aggregation . the aggregation implementation date was 14 december 2011 . cnp contributed its australian assets including its funds and services business to crf in exchange for scrip in crf . that scrip in addition to the crf scrip which cnp held as a result of its investments in the aggregated funds resulted in cnp s ownership of the a reit being approximately 72 % on implementation of aggregation . on implementation of the senior lenders schemes of arrangement cnp s scrip in crf was distributed to the senior lenders on a pro rata basis to their senior debt holdings . cnp securityholders did not receive any securities in crf . at an extraordinary general meeting of on 22 january 2013 shareholders voted to change the name of centro retail limited to federation limited and amend the company constitution to reflect the change of name . 99.76 % of votes in favour as of 2015 federation limited has merged with a neighbouring company to now be known as vicinity centres . stock return information edit as at june 2013 vicinity then federation centres owned and managed a portfolio consisting of 73 australian shopping centres with a total value of 6.5 bn . 19 to date the group has undertaken a number of significant co ownership transactions selling approximately 1.4 bn 20 of assets to groups such as perron group 21