News Article Deutsche EuroShop to buy Brno mall for €382 million
by Ákos Budai | Investment

Deutsche EuroShop AG has signed a purchase agreement for a shopping centre in the Czech Republic and approved a capital increase excluding subscription rights of up to 4.7 million new shares.

The Executive Board of Deutsche EuroShop AG, Hamburg has signed a purchase agreement for the acquisition of a shopping centre in the Czech Republic. Located in Brno, the Olympia Center has approximately 85,000 sqm of leasable space, more than 200 tenants and an occupancy rate of around 98.5%. The total investment volume of around €382 million will be funded by assuming existing loans and taking out new ones, and with cash from a capital increase. The acquisition is planned to be completed during the first half of 2017.