Euro Mall Holding, a subsidiary of Denmark's TK Development, has sold its Targowek retail park in Warsaw to Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft for DK 235 mln (EUR 29 mln). Targowek Retail Park, covering 24,500 m2, is next to Targowek shopping centre, which attracts 8 million visitors a year. The retail park was split into units of 12,300 m[sup]2[/sup] and 12,900 m[sup]2[/sup] during construction and the project is scheduled for opening in May 2007.
Euro Mall Holding, a subsidiary of Denmark's TK Development, has sold its Targowek retail park in Warsaw to Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft for DK 235 mln (EUR 29 mln). Targowek Retail Park, covering 24,500 m2, is next to Targowek shopping centre, which attracts 8 million visitors a year. The retail park was split into units of 12,300 m2 and 12,900 m2 during construction and the project is scheduled for opening in May 2007.
Last week, Euro Mall Holding sold the 10,600 m2 Ostrava retail park in the Czech Republic to GE Real Estate Central Europe for DKK 120 mln (EUR 16.1 mln). That retail park is connected to the existing Futurum shopping centre, also built by TK Development and partly owned by GE Real Estate Central Europe. The Futurum shopping centre opened in May 2000 and the 68 stores in the have been fully let. The centre was about 6 million visitors a year.
The two sales were Euro Mall Holding’s first retail park transactions in Poland and the Czech Republic.
