The agreement in principle signed in August 2012 with the owner of the two Knauf shopping centers located in the North of the Grand Duchy of Luxembourg has been fully realized on September 10, 2013, after the acquisition of the real estate certificates of the first Knauf shopping center Schmiede in September 2012, by the acquisition of the economic property of the second Knauf shopping center in Pommerloch.
On 10 September 2013 Leasinvest Real Estate has acquired, in execution of this agreement, through its 100% subsidiary Leasinvest Immo Lux SA located in Luxembourg, the economic property of Knauf Pommerloch for a value of €96.5 million through the issue of real estate certificates.
This shopping center consists of 60 shops with over 26,000 m² of commercial space and more than 1,000 parking spaces, and 2,700 m² of new offices currently commercialized. The shopping center is entirely let to different renowned retailers and attracts after more than 10 years visitors from both Luxembourg and Belgium.
With the acquisition of these two Knauf shopping centers, Leasinvest Immo Lux acquires over 20% of the current total commercial space in the Grand Duchy of Luxembourg and a leading market position in the North of Luxembourg.