DGAP-News: Deutsche EuroShop AG / Key word(s): Real Estate/Mergers &
Acquisitions
Deutsche EuroShop takes a stake in the Allee-Center Magdeburg
30.08.2011 / 12:30
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Deutsche EuroShop takes a stake in the Allee-Center Magdeburg
- Acquisition of a 50% stake
- EUR118 million investment
- 19th shopping center in the portfolio
Hamburg, 30 August 2011 - The shopping center investor Deutsche EuroShop
buys the 50% stake in the Allee-Center in Magdeburg, which was previously
held by Unibail-Rodamco. The completion of the transaction is subject to
approval by the German antitrust authorities. Jones Lang LaSalle acted as
intermediary in this transaction.
The investment volume amounts to roughly EUR118 million, the net initial
yield - based on an expected proportional revenue in 2012 of EUR7.8 million
- is just under 6%. The financing of the purchase price is done by
utilising a credit line. With this investment the portfolio of Deutsche
EuroShop comprises of 19 shopping centers with a market value of EUR3.6
billion.
'The Allee-Center Magdeburg as event and shopping mall at the heart of the
state capital of Saxony-Anhalt fits very well into our shopping center
portfolio', commented Claus-Matthias Böge, CEO of Deutsche EuroShop.
Originally the center was opened in 1998 with over 110 shops and 25,000 sqm
selling space. Since March 2006, after the mall was expanded from two
levels to three, the 'Marketplace of Magdeburg' now offers 150 speciality
stores over 35,000 sqm. A specialist consumer electronics retailer
(Saturn), two fashion houses (SinnLeffers, H&M), a sports market
(SportScheck) and a food supermarket (REWE) are the center's anchor
tenants. The complex also comprises approx. 1,800 sqm residential and 7,300
sqm office space as well as parking for 1,300 cars.
The Allee-Center is located in the city centre and is ideally accessible by
public transport (tram and bus stops are located next to the center) and by
car. Approx. 720,000 people are living in the catchment area of the
shopping center, which is managed by ECE Projektmanagement. Approx. 25,000
shoppers visit the Allee-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 19 European shopping centers in Germany, Austria,
Hungary and Poland.
Facts & Figures of the Allee-Center
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Location Magdeburg
Investment of DES 50%
Selling space in sqm approx. 35,000
Parking approx. 1,300
Number of shops approx. 150
Occupancy rate 99%
Catchment area 0.7 million inhabitants
Opening/extension 1998/2006
Website www.allee-center-magdeburg.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/
End of Corporate News
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30.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Deutsche EuroShop AG
Oderfelder StraÃe 23
20149 Hamburg
Germany
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
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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137440 30.08.2011
DGAP-News: Deutsche EuroShop takes a stake in the Allee-Center Magdeburg
| Source: EQS Group AG