Under the purchase agreement signed on 7 March 2017, Deutsche EuroShop AG is acquiring 100% of the shares in a property company that is the owner of the Olympia Center in Brno. The company is being sold by two funds managed by Rockspring Property Investment Managers and ECE Real Estate Partners respectively. The acquisition is expected to be completed during the first half of 2017. The acquisition will increase Deutsche EuroShop’s portfolio to 21 shopping centers, with a market value of some €5.1 billion (100% perspective).

Located in the second largest town in the Czech Republic, the Olympia Center opened its doors in 1999 and is one of the country’s biggest shopping centers. Following a reorganisation between 2014 and 2016, it houses more than 200 specialist stores across 85,000 m² over two floors. Anchor tenants include hypermarket Albert, H&M, Intersport and P&C Düsseldorf. The center also features a cinema and entertainment park, as well as more than 4,000 parking spaces. It is very well connected in terms of both road links and public transport. The shopping center is managed by ECE Projektmanagement, and some 1.2 million people live in its catchment area. The Olympia Center welcomes more than 23,000 customers every day and more than 8 million every year.

It is expected to generate €20.1 million in rental income in 2017. Anticipated NOI is €19.1 million.

Facts & figures on the Olympia Center