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Corporate News

06.10.2016

Deutsche EuroShop invests in Saarpark-Center Neunkirchen

06.10.2016

  • Investment volume: €113 million
  • Acquisition of a 50% stake
  • 20th shopping center in the portfolio

The shopping center investor Deutsche EuroShop acquired a 50% stake in the Saarpark-Center in Neunkirchen, Saarland, from the BAT Custodian pension fund on 1 October 2016.

 

Including the net financial liabilities, the investment amounts to €113 million. The expected proportional rental income for the Saarpark-Center in 2017 is €6.4 million. With a Net Operating Income (NOI) of €5.7 million, the expected NOI return is 5.0 %. The net purchase price of approximately €79 million was financed by means of loans. The acquisition will increase Deutsche EuroShop's portfolio to 20 shopping centers, with a market value of €4.5 billion (100% view).

 

“We are delighted that in acquiring a stake in the Saarpark-Center in Neunkirchen we have been able to expand our portfolio with an established and successful shopping center. The center sets itself apart from the competition thanks to its good location, stability and excellent market position,” said Wilhelm Wellner, CEO of Deutsche EuroShop.

 

The Saarpark-Center was originally opened in 1989. After undergoing an expansion in 1999 and restructuring in 2009, the largest shopping center in Saarland now boasts over 130 specialist stores across 33,500 sqm of retail space split between two floors. The center’s key tenants are C&A, H&M, Müller Drogerie, P&C Düsseldorf, REWE and TK Maxx. In addition, the center boasts 600 sqm of office space as well as over 1,600 parking spaces.

 

The Saarpark-Center is located in the middle of Neunkirchen’s town centre and is easily accessible by public transport via the adjacent bus station as well as by car via the nearby motorway link. The shopping center is managed by ECE Projektmanagement, and some 595,000 people live in its catchment area. The Saarpark-Center receives approximately 24,000 customers every day and more than 7.1 million every year.

 

Deutsche EuroShop – The shopping center company

Deutsche EuroShop is the only public company in Germany to invest solely in shopping centers in prime locations. The MDAX-listed company currently has investments in 20 shopping centers in Germany, Austria, Poland and Hungary.


Facts & Figures about the Saarpark-Center

Location


Neunkirchen

DES shareholding


50%

Retail floor space in sqm


approx. 33,500

Parking spaces


approx. 1,600

Number of shops


approx. 130

Occupancy rate


98.5%

Catchment area


0.6 million inhabitants

Opened/restructured


1989/1999/2009

Website


www.saarpark-center-neunkirchen.de

 

Note to editorial staff

You can request digital images by sending an e-mail to ir@deutsche-euroshop.com or downloaded at www.flickr.com/photos/desag

A presentation about the Saarpark-Center is available at www.slideshare.net/desag

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