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- December 1, 2011: Vol. 5, Number 11

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Pramerica and HKM Form Retail Development Venture

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1 Pramerica Real Estate Investors, the real estate investment management and advisory business of US-based Prudential Financial, has formed a joint venture company with HKM Management AG to develop a major new shopping centre in Böblingen, near Stuttgart, in Germany’s Baden-Württemberg region. The Luxembourg-based joint venture, PBC Preco Sàrl, has a total investment capacity of around €120 million, which will be used to finance the acquisition of the site and the subsequent construction of the shopping centre. “Baden-Württemberg has a very stable investment environment,” says Herbert Krämer, CEO of HKM. “Böblingen as a town also has a high absolute purchasing power and is one of the top five development regions in Germany. As such the potential

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