A German Westinvest InterSelect fund, represented by Deka Immobilien, has acquired Akropolis Kaunus in what has been described as one of the newest and largest shopping centres in Lithuania for a transaction volume believed to be in the region of EUR 220mln. The 60,000 m[sup]2[/sup] shopping centre was developed by the Akropolis Group in the heart of Kaunas, the second largest city in Lithuania. Since opening in 2007 the centre has attracted 35,000 visitors per day. Re&Solution, a regional property services company, in corporation with Jones Lang LaSalle advised the developer Akropolis on the sale.
A German Westinvest InterSelect fund, represented by Deka Immobilien, has acquired Akropolis Kaunus in what has been described as one of the newest and largest shopping centres in Lithuania for a transaction volume believed to be in the region of EUR 220mln. The 60,000 m2 shopping centre was developed by the Akropolis Group in the heart of Kaunas, the second largest city in Lithuania. Since opening in 2007 the centre has attracted 35,000 visitors per day. Re&Solution, a regional property services company, in corporation with Jones Lang LaSalle advised the developer Akropolis on the sale.
The shopping centre has been sold through a share deal. It is the second investment by Deka Immobilien in Lithuania. In 2007 the fund, advised by Re&Solution, has acquired shopping centre BIG in the capital of Lithuania Vilnius. Andrius Stonkus, Re&Solution partner said: 'This transaction is a clear proof, that Baltic property markets are now offering possibilities to acquire the best assets, matching requirements of major global institutional investors'.
