Allianz Real Estate has entered the Slovakian property market with the purchase of 100% of the shares of the company owning the Central shopping centre in Bratislava for €175 mln.
Allianz Real Estate has entered the Slovakian property market with the purchase of 100% of the shares of the company owning the Central shopping centre in Bratislava for €175 mln.
The seller is a unit of Slovakian developer Immocap.
Opened in October 2012, Central is one of the dominant and best performing shopping centres in the city centre of Bratislava. It is part of the New Town district and comprises a total of 40,000 m2 of lettable area, of which 31,500 m2 for retail use.
The three-storey scheme also includes 1,300 parking spaces. ECE is responsible for the property management of the asset.
'Our investment into Central Shopping Center is again an important step to a further diversification of Allianz' real estate portfolio and to expand our investments in retail assets,' said Annette Kröger, CEO of Allianz Real Estate Germany. 'At the same time it is an attractive opportunity to get exposure to the Slovakian market.'
JLL advised Allianz on the deal.
