Allianz Real Estate has set up a joint venture with the Austrian company SES Spar European Shopping Centers. Within this cooperation, Allianz is expected to acquire a 50% stake in seven shopping centers owned by the SES/Spar Group in key cities of Austria, Slovenia and northern Italy.
The modern shopping malls are all located in established retail locations with good transport links. During construction and operation, the investors and operators paid particular attention to ensuring the buildings’ sustainability. The asset management of the shopping centers will continue to be handled by SES.
“Allianz Real Estate is continuing its strategy of working as an investor with successful companies in joint ventures. With SES being one of the foremost shopping center operators, we have found a powerful, long-term partner,” declared Charles Pridgeon, Chief Investment Officer of Allianz Real Estate.