Deutsche Euroshop Newsroom

Corporate News

30.08.2011

Deutsche EuroShop takes a stake in the Allee-Center Magdeburg

  • Acquisition of a 50% stake
  • €118 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 €118 million, the net initial yield – based on an expected proportional revenue in 2012 of €7.8 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 €3.6 billion.

 

Allee-Center Magdeburg


“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

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


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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