Immochan Sells the Kirchberg Mall in Luxembourg - Information portal

Immochan Sells the Kirchberg Mall in Luxembourg

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31.05.2013 Количество просмотров 547 views
mall.jpgIn-line with changes to its development strategy, opening up to public or private investors, and following on from the partnership of January 2013 concluded for the sale of 7 commercial assets in France with a leading investor, Immochan has announced the sale of the KIRCHBERG mall in Luxembourg. 

The KIRCHBERG shopping mall opened in 1996, was extended and renovated in 2009, and represents a 12,500 m² GLA and 70 shops. The gallery is located alongside a 13,500 m² Auchan hypermarket, leader on the Luxembourg market. In the context of this transaction, Immochan will retain a 20% interest in the company and continue to manage the site via a management mandate. 

This outsourcing operation is part of Immochan's ambitious expansion strategy, which includes plans to create and extend shopping centres representing a total of approximately 700,000 m² and more than 2 billion euros investment over 3 years. The first stone laid at Saisons de Meaux (France - 65,000 m²), and recent openings in Russia (Aquarelle shopping and leisure centre, 92,000 m² - Volgograd) and in Poland (Lomianki, 33,600 m²) reflect this aim to accompany Auchan worldwide. 

This sale confirms the partnership concluded in January and reflects Immochan's drive to maintain sustainable relations with targeted investors.
Source:  Auchan Group


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