SHB acquires shopping centre in Regensburg for EUR 58m

By A staff reporter 2008-01-03T00:00:00+00:00

Munich-based property company SHB Group has acquired the Koewe shopping centre in the Southern Germany city of Regensburg from an unnamed seller for EUR 58 mln. The mall, developed in 1991 and refurbished in 2006, offers almost 29,000 m[sup]2[/sup] of retail space and 1,200 parking spaces.

Munich-based property company SHB Group has acquired the Koewe shopping centre in the Southern Germany city of Regensburg from an unnamed seller for EUR 58 mln. The mall, developed in 1991 and refurbished in 2006, offers almost 29,000 m² of retail space and 1,200 parking spaces.

The property is leased to 50 tenants and has an occupancy rate of 98%. Major tenants include German supermarket group Edeka, Toom Baumarkt and Toys'R'Us.

SHB said that the property is earmarked for one of its real estate funds.