Deutsche EuroShop has taken a majority stake in City-Point Kassel mall in Germany. The MDAX-listed shopping centre firm increased its shareholding in the asset from 40% to 90% by acquiring shares from Arcandor, the investment company that owns the majority of the German department stores operated by Karstadt. The investment volume - including assumed debt - amounted to EUR 53 mln.
Deutsche EuroShop has taken a majority stake in City-Point Kassel mall in Germany. The MDAX-listed shopping centre firm increased its shareholding in the asset from 40% to 90% by acquiring shares from Arcandor, the investment company that owns the majority of the German department stores operated by Karstadt. The investment volume - including assumed debt - amounted to EUR 53 mln.
City-Point Kassel was opened in 2002 and offers space for more than 60 specialised shops on five levels over 20,000 m2. The centre also has 220 parking places. Around 80,000 people live in the centre's catchment area.
Deutsche EuroShop has equity interests in 16 European shopping centers in Germany, Austria, Hungary and Poland.
