Pallasium, Prague

Award: Investment Deal of the Year, CEE
Name of the deal: Pallasium, Prague
Value of the transaction (in EUR): approximately EUR 570 million
Yield: n/a
Seller, plus brief information about the company: Hannover Leasing
Consultancy which advised Seller: n/a
Purchaser, plus brief information about the company: Union Investment, Union Investment's broadly diversified portfolio of European shopping centres comprises 41 properties with a total value of approximately EUR 6,45 billion.
Consultancy which advised Purchaser: CBRE
Financing institution: n/a
Current occupancy level: n/a
Please say why this deal should be considered for the award: Pallasium was completed in October 2007 and boasting a gross floor area of 115,000 sq m, of which 41,000 sq m is dedicated to retail and 18,000 sq m to office use, the almost fully let Palladium is the largest shopping centre in Prague's central retail district. The transaction is based on a property value of approximately EUR 570 million. Since it opened, the shopping centre has developed into a real retail magnet at the north-eastern end of the pedestrian zone, attracting some 15.8 million visitors in 2014 from far beyond the local region. Palladium is home to a broad mix of over 200 tenants, including anchor tenants Marks & Spencer, H&M, C&A, Samsung and Esprit, as well as Böhringer and CBRE in the office space.


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