Deka Immobilien Investment GmbH has sold two shopping centers from the portfolio of Deka-ImmobilienFonds for approx. €390 mln. In connection with the new direction of the fund, the objects 'nova eventis' in Günthersdorf and 'Allee Center' in Leipzig were sold.
PCP Prime Commercial Properties Plc., London, has acquired the shopping centers.
One of the two sold properties: nova eventis in Günthersdorf.
According to Reinhardt Gennies, Chairman of the Board of Management of Deka Immobilien Investment GmbH, Deka has come, with this transaction, one step closer to the planned future allocation of the fund. The aspired sectorial allocation provides for 15-20 percent retail. This sale reduced this quote from 22.9 to 17.8 percent, and at the same sets the basis for a better spread of risk in the retail sector. Nova eventis, the former Saale-Park, was acquired by Deka-ImmobilienFonds in 1993, the Allee Center in 2003. Since 2003 nova eventis has been revitalized in phases. Completion of this is planned for autumn 2006.