Deutsche EuroShop increases interests in two shopping centers (DE)

Deutsche EuroShop AG increases interests in the Main-Taunus-Zentrum (Sulzbach) and the Rhein-Neckar-Zentrum (Viernheim) effective end of 2005. The stake in the Main-Taunus-Zentrum will increase to 43,1%, the stake in the Rhein-Neckar-Zentrum will increase to 99,8%.

Therewith Deutsche EuroShop, which at present has a stake in 14 European shopping centers, extends its exposure in two of the sales strongest objects of that kind in Germany. The investment volume for both transactions amounts to above €20 million.

The Main-Taunus-Zentrum in Sulzbach was opened in 1964 and is regarded as Europe's first shopping center. After several refurbishments and expansions it offers today a total sales area of approx. 79,000 m². The center with 100 stores and parking for 4,000 cars is located between Frankfurt and Wiesbaden close to the highway A66.

The Rhein-Neckar-Zentrum in Viernheim is optimally integrated in the metropolitan area Mannheim-Heidelberg by the highways A5, A6 and A659. Opened in 1972, extended and refurbished in 2002, it offers today approx. 100 shops with a sales area of 60,000 m² and parking for 3,800 cars.

Both centers are 100% long term let to renowned retailers and are managed by Hamburg based ECE Projektmanagement.

Source: DGAP

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