Allianz buys remaining shares in Hamburg's Europa Passage (DE)
Thursday 5 April 2012
Allianz has purchased a 45% stake in Europa Passage in Hamburg from HSH Nordbank. The shopping center at Ballindamm 40 is now wholly owned by Allianz.
Previously, Europa Passage was owned (via Alida Grundstücksgesellschaft mbH & Co. KG) by HSH Nordbank (45%) as well as life insurance Allianz Lebensversicherungs-AG and Allianz Real Estate Germany GmbH (55%). Both parties have agreed not to disclose transaction details.
Europa Passage was opened in Hamburg’s prime city-center location in 2006. Apart from 120 retail outlets with a total sales area of ca. 30,000 m², it also contains about 34,000 m² of office space.
The shopping mall connects Mönckebergstrasse to Neuer Wall and the Passagenviertel district, all busy shopping areas. Designed by Hamburg’s celebrity architect Hadi Teherani, every day Europa Passage welcomes over 48,000 visitors and customers.
The management of the shopping center and letting are handled by Hamburg company ECE Projektmanagement.