Deutsche Euroshop Newsroom

Corporate News

15.12.2010

Deutsche EuroShop acquires majority stake in Main-Taunus-Zentrum

  • Shareholding increases to 52%
  • €17.2 million purchase of 9% stake

At the end of 2010, shopping center investor Deutsche EuroShop will acquire from an institutional investor a stake of around 9% in the Main-Taunus-Zentrum shopping center (MTZ) near Frankfurt for some €17.2 million. Deutsche EuroShop's shareholding in the center will consequently increase to 52%.

"The Main-Taunus-Zentrum belongs to Deutsche EuroShop's original portfolio. We are delighted that we are now able to acquire a majority stake in this excellent shopping center", said Claus-Matthias Böge, Executive Board Spokesman, Deutsche EuroShop.

 

Once ongoing expansion work has been finalised in autumn 2011, MTZ will present some 180 specialist shops of well-known retailers (e.g. Ansons, Breuninger, H&M, Kaufhof, Karstadt, Media Markt, Peek & Cloppenburg, Zara) on a retail space of around 91,000 sqm. Following completion of expansion work to its northern side, the center will offer its visitors more than 4,500 car parking spaces. "The pre-letting level already stands at around 70%, and – in keeping with all our shopping centers – we expect 100% occupancy by the time the extension is opened", Böge added.

 

MTZ was one of the first ever shopping centers to be opened in Germany in 1964, and was modernised and expanded from 2001 to 2004. It is located in Sulzbach on the western outskirts of Frankfurt, directly on the A66 (motorway between Frankfurt and Wiesbaden). Managed by ECE, the European market leader in the shopping center segment, since 1998, the shopping center has a catchment area encompassing a population of 2.2 million. Up to 40,000 customers visit MTZ each 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 Main-Taunus-Zentrum (incl. the extension)

 

Location

 

Sulzbach (close to Frankfurt)

Investment of DES

 

52%

Selling space in sqm

 

approx. 91,000

Parking

 

approx. 4,500

Number of shops

 

approx. 180

Occupancy rate (extension)

 

100% (70%)

Catchment area

 

2.2 million inhabitants

Opening/refurbishment

 

1964/2001

Website

 

 

www.main-taunus-zentrum.de

 

 

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/

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