Czech Shopping Malls Trade for €96 Million
Two shopping malls in the Czech Republic under the Olympia Shopping Centre name have been sold by the C1 Fund to a Czech investor for €96 million. Europolis, a subsidiary of CA Immo, has a 51 percent holding in the C1 Fund, while Union Investment Real Estate, on behalf of the UniImmo: Europa open-end fund, holds a 49 percent interest.
“This successful sale is a first step in the strategy we announced at the start of the year, of focusing our portfolio in terms of both type of use and region,” says Dr Bruno Ettenauer, CEO of CA Immo. “The transaction also underlines the perceptible upturn in the property investment market” in central and eastern Europe.
The property in Teplice totals 32,157 square metres, while the property in Mladá Boleslav totals 21,884 square metres. Ahold, a supermarket chain,