ING Real Estate acquires shopping centre in Banská Bystrica, Slovakia (NL/SK)

ING Real Estate Investment Management CEE announces its first acquisition in Slovakia, the Europa Shopping Center ("the Center") in Banská Bystrica. The Center will be added to the ING Real Estate Property Fund Central and Eastern Europe (ING PFCEE), which was launched in December 2006.

Located in the city centre, the newly-built shopping centre provides 30,648 sqm GLA of accommodation over three levels, together with 1,000 parking spaces in an underground garage and on top of the building.

The retail element of the scheme comprises some 25,000 m ² of shopping and incorporates a broad range of retailers including major international tenants such as New Yorker, Intersport, Deichmann, Bata and Kenvelo; significant Slovak retailers and local entrepreneurs. The retail space is complemented by some 5,000 m² GLA of leisure floorspace. This is let to the third largest multiplex in Slovakia, providing six screens for 1,000 visitors, together with a fitness centre and several restaurants and cafés. There is also approximately 1,100 m² GLA of office space. The retail part of the scheme has been trading since December 2006; with the upper floor, which is predominantly leisure, to open officially on 2nd May 2007.

In addition, directly adjacent to the Center, a 22-storey mixed-use building [is under construction]. This will offer some 8,000 m² of offices on 16 floors with apartments and a restaurant on the top floors. Completion of the tower is anticipated for the middle of 2008.

"After our first acquisition in Austria last month, we are very proud to have concluded our first acquisition in Slovakia. Less than four months after launching ING PFCEE we have successfully entered two new markets" said Martin Sabelko, Managing Director of ING Real Estate Investment Management Central Europe.

Source: ING Real Estate

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