Unibail-Rodamco has reached agreement with private family trust Hans Dujsik Privatstiftung on the acquisition of 140,400 m[sup]2[/sup] in Shopping City Sud in Vienna, Austria's largest retail and leisure complex. Financial details were not disclosed. The transaction is expected to close n the second quarter of 2008 and will give Unibail-Rodamco a 90% stake in the company holding the property. The remaining 10% will remain in the hands of the Breiteneder family.
Unibail-Rodamco has reached agreement with private family trust Hans Dujsik Privatstiftung on the acquisition of 140,400 m2 in Shopping City Sud in Vienna, Austria's largest retail and leisure complex. Financial details were not disclosed. The transaction is expected to close n the second quarter of 2008 and will give Unibail-Rodamco a 90% stake in the company holding the property. The remaining 10% will remain in the hands of the Breiteneder family.
Anchored by Ikea, InterSpar, Peek and Cloppenburg, Leiner, Zara and C&A, Shopping City Sud has a total surface area of approximately 300,000 m2 and fits perfectly with Unibail-Rodamco's focus on large and unique prime assets. The purchased area covers 131,200 m2 of retail space and 9,200 m2 of offices.
Commenting on the deal, Unibail-Rodamco's CEO, Guillaume Poitrinal, said: 'We are very pleased with this agreement. There are very few shopping centres of this size and potential on the European market. This will be an excellent opportunity to apply our skills in active property management and development. It is also a perfect fit with the high quality portfolio of 95 shopping centres currently owned by our company throughout Europe.'
Jones Lang LaSalle advised Hans Dujsik Privatstiftung on the transaction.
