In concluding this agreement, SES and Allianz are continuing their successful cooperation in retail investment. Both parties agreed not to disclose further transaction details.
Fischapark is located in Wiener Neustadt, around 60 kilometers south of Vienna. The region's biggest shopping center is easy to reach by public transport and has an attractive surrounding area. It was first opened in 1996, originally boasting an area of around 21,000 square meters. Another 2 construction stages were completed in 2014 and 2015, respectively. Today, total rented floor space adds up to approximately 46,000 square meters, spread over 2 floors and comprising roughly 100 rental units. Interspar, Peek&Cloppenburg, C&A, Media Markt, H&M and Zara are the anchor tenants. Fischapark has been fully let. There are around 1,800 parking spaces available in the center's car park.
"We are already successfully working together with SES via a joint venture. As part of this venture, we currently hold shares in a total of 7 shopping centers in Austria, Italy and Slovenia", says Annette Kröger, CEO of Allianz Real Estate Germany. "In acquiring Fischapark, we are expanding our cooperation while simultaneously strengthening our retail portfolio in Austria."
Marcus Wild, Chairman of the Management of SES Spar European Shopping Centers, gave the following comment: "We attach a great deal of importance on forming joint ventures with professional partners. As far as Allianz is concerned, we can already look back on what is a successful partnership, and will now continue to pursue our equity funding strategy together. At the same time, we for our part will carry on managing our locations on an ongoing basis, as well as developing them further."