06.10.2016
Deutsche EuroShop AG DE0007480204
DGAP-News: Deutsche EuroShop invests in Saarpark-Center Neunkirchen
DGAP-News: Deutsche EuroShop AG / Key word(s): Acquisition
Deutsche EuroShop invests in Saarpark-Center Neunkirchen
06.10.2016 / 13:26
The issuer is solely responsible for the content of this announcement.
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Deutsche EuroShop invests in Saarpark-Center Neunkirchen
- Investment volume: EUR113 million
- Acquisition of a 50% stake
- 20th shopping center in the portfolio
Hamburg, 6 October 2016 - 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 EUR113
million. The expected proportional rental income for the Saarpark-Center in
2017 is EUR6.4 million. With a Net Operating Income (NOI) of EUR5.7
million, the expected NOI return is 5.0 %. The net purchase price of
approximately EUR79 million was financed by means of loans. The acquisition
will increase Deutsche EuroShop's portfolio to 20 shopping centers, with a
market value of EUR4.5 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--------------------------------------------------------------------------- 06.10.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Deutsche EuroShop AG Heegbarg 36 22391 Hamburg Germany Phone: +49 (0)40 413 579-0 Fax: +49 (0)40 413 579-29 E-mail: [email protected] Internet: www.deutsche-euroshop.de ISIN: DE0007480204, DE000A1R0W05 WKN: 748020 Indices: MDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 509065 06.10.2016
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