Deutsche EuroShop AG / Key word(s): Mergers & Acquisitions
07.10.2010 08:32
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Deutsche EuroShop buys its second shopping center in Hamburg
- EUR160 million investment
- 18th shopping center in the portfolio
- ECE as centermanagement partner
Hamburg, 7 October 2010 - The shopping center investor Deutsche EuroShop
buys from Prime Commercial Properties plc the Billstedt-Center in Hamburg,
with effect from 1 January 2011. The investment volume amounts to roughly
EUR160 million, the net initial yield is approximately 6%. With this
investment the portfolio of Deutsche EuroShop comprises of 18 shopping
centers with a market value of EUR3.3 billion.
'The Billstedt-Center is a long established and stable center, which fits
very well into our portfolio', commented Claus-Matthias Böge, CEO of
Deutsche EuroShop. 'It is our second shopping center in Hamburg and our
14th in Germany. This underscores our strong position - and we already eye
the next center in Germany.'
The Billstedt-Center offers on a selling space of about 40,000 sqm on two
levels approx. 110 shops, all let to renowned retailers. A hypermarket
(toom), a specialist consumer electronics retailer (Media Markt) and three
fashion houses (C&A, TK Maxx and H&M) are the center's anchor tenants.
Further, a Karstadt department store is integrated into the center, owned
by a third party. The complex also comprises approx. 3.500 sqm residential
and office space as well as parking for 1,500 cars.
Originally the Billstedt-Center has been built in two separate parts in
1969 and 1977 with a major refurbishment in 1996. It is located in the
eastern part of Hamburg about 8 kilometers from the city centre. 735,000
people are living in the catchment area of the shopping center, which is
managed by ECE Projektmanagement since 1990. Up to 40,000 shoppers visit
the Billstedt-Center on average per day.
Deutsche EuroShop - The Shopping Center Company
Deutsche EuroShop is Germany's only public company, that invests solely in
shopping centers in prime locations. The MDAX-listed Company currently has
equity interests in 18 European shopping centers in Germany, Austria,
Hungary and Poland.
Facts & Figures of the Billstedt-Center
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Location Hamburg
Investment of DES 100%
Selling space (incl. Karstadt) in sqm approx. 40,000
Parking approx. 1,500
Number of shops approx. 110
Occupancy rate 100%
Catchment area 0.7 million inhabitants
Opening/refurbishment 1969/1977, 1996
Website www.billstedt-center.de
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Note for editors
Digital pictures (incl. micro- and macromap) can be requested by e-mail:
ir@deutsche-euroshop.com or downloaded at
http://www.flickr.com/photos/desag/
07.10.2010 08:32 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Deutsche EuroShop AG
Oderfelder StraÃe 23
20149 Hamburg
Deutschland
Phone: +49 (0)40 413 579-0
Fax: +49 (0)40 413 579-29
E-mail: ir@deutsche-euroshop.de
Internet: www.deutsche-euroshop.de
ISIN: DE0007480204
WKN: 748020
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Hannover, Stuttgart
End of Announcement DGAP News-Service
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DGAP-News: Deutsche EuroShop buys its second shopping center in Hamburg
| Source: EQS Group AG