DGAP-News: Deutsche EuroShop AG:
(firmenpresse) - DGAP-News: Deutsche EuroShop AG / Key word(s): Real Estate/Mergers&Acquisitions
Deutsche EuroShop AG:
16.11.2012 / 15:06
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Deutsche EuroShop acquires Herold-Center Norderstedt
- EUR187 million investment
- Twentieth shopping center in the portfolio
- ECE as center management partner
Hamburg, 16 November 2012 - Shopping center investor Deutsche EuroShop will
take over the Herold-Center in Norderstedt, located on the northern
outskirts of Hamburg, from West Register PRIME Norderstedt GmbH at the
beginning of 2013. The investment volume is around EUR187 million, the
initial rate of return about 6.1%. The acquisition will increase Deutsche
EuroShop's portfolio to 20 shopping centers, with a market value of EUR3.8
billion.
'The Herold-Center is a mature, well-established shopping center which is
well suited to our portfolio,' comments Claus-Matthias Böge, Executive
Board Spokesman of Deutsche EuroShop. 'It is our third shopping center in
the greater Hamburg area and our 16th in Germany.'
Built on two levels, with a retail space of around 26,000 m2, the
Herold-Center houses some 130 specialist shops, all of which are let to
well-known retailers. The Center's key tenants are three clothing stores
(P&C, C&A and H&M) and a supermarket (REWE). A Karstadt department store,
which is third-party owned, is also connected to the Center. In addition,
the Center boasts around 14,000 m2 of residential space (256 apartments)
and 5,000 m2 of office space. The Herold-Center has a total leasable space
of 55,500 m2. Parking facilities for visitors offer space for 850 cars and
300 bikes.
The Herold-Center was opened in 1971 and underwent extensive restructuring
and expansion in 1995. This construction work added an office building and
medical practice to the old building which had previously consisted of a
two-storey shopping mall and four high-rise residential buildings. The new
addition on the side facing the central bus station in 2003 gave the
Herold-Center its current appearance. The additional retail space that this
created further strengthened the Herold-Center's positioning as an
interregional retail location. The shopping center is managed by ECE
Projektmanagement since 1981, and some 481,000 people live in its catchment
area. On peak days the Herold-Center is visited by up to 40,000 customers.
The seller was advised by CBRE and Clifford Chance Partnergesellschaft.
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 Herold-Center
Location Norderstedt near HamburgNote to editorial staff
DES shareholding 100%
Retail floor space in m²approx. 26,000
Parking spaces approx. 850
Number of shopsapprox. 140
Occupancy rate of retail space 100%
Catchment area 0.5 million residents
Opened/restructured 1971, 1995, 2003
Website www.herold-center.de
You can request digital images by sending an e-mail to
ir(at)deutsche-euroshop.de or downloaded at www.flickr.com/photos/desag
A presentation about the Herold-Center is available at
www.slideshare.net/desag
End of Corporate News
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16.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Deutsche EuroShop AG
Wandsbeker Str. 3-7
20179 Hamburg
Germany
Phone: +49 (0)40 413 579-0
Fax: +49 (0)40 413 579-29
E-mail: ir(at)deutsche-euroshop.de
Internet: www.deutsche-euroshop.de
ISIN: DE0007480204
WKN: 748020
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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193637 16.11.2012
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Datum: 16.11.2012 - 15:06 Uhr
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News-ID 204598
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