The value of McArthurGlen Designer Outlet Athens amounts to approximately 109 million euros (Gross Asset Value), as determined by the valuation of the independent appraiser CBRE Axies on 31.12.2021.
The acquisition of the discounted village McArthurGlen Designer Outlet Athens in Spata with more than 100 shops, cafes and restaurants, officially announced by Lamda Development, further strengthening its leadership position in retail and creating synergies for the benefit of visitors and business associates.
In particular, in a related announcement, it is stated that Lamda Development, its 100% subsidiary, LOV SMSA, acquired 100% of the company McArthurGlen Hellas Monoprosopi EPE, owner of the McArthurGlen Designer Outlet Athens discount village in Spata, Attica, from the company MGE Hellenic Investments SÃ rl.
The value of McArthurGlen Designer Outlet Athens is approx 109 million euros (Gross Asset Value), as derived from the valuation of the independent appraiser CBRE Axies on 31.12.2021.
The purchase price amounted to approximately 40 million euros including the repayment of pre-existing loans granted by the company’s previous partners.
95% occupancy in July – More than 100 stores
As highlighted in the announcement, McArthurGlen Designer Outlet Athens is the leading discount village in Greece with a total leasable area of ​​approximately 21,200 sq m and more than 100 shops, cafes and restaurants. The occupancy on 30.06.2022 was approximately 95% while the total traffic in full and unhindered operation conditions (in 2019, before the pandemic) was approximately 4.2 million visitors per year. The above transaction is part of the company’s existing strategy which aims to further develop the activities and the portfolio of Shopping Centers.
Commenting on this transaction, the managing director of the LAMDA Development group, Odysseas Athanasiou, said: “This acquisition is an important strategic move as with the acquisition of McArthurGlen Designer Outlet Athens, which is a leading player in the discount center industry, we further strengthen the leading our position in Retail, creating very important synergies for the benefit of visitors and business partners”.
The Co-CEO of the McArthurGlen group, Joan Jove, said: “Since the opening of our center in Athens in 2011, we are proud that, in collaboration with our partner Bluehouse Capital, we have made it the first nationwide Designer Outlet shopping destination. McArthurGlen is confident that the center will continue to thrive under Lamda’s ownership, and that visitors will continue to enjoy an unforgettable shopping experience in Athens. Our confidence in the dynamics of the discount sector in Europe is maintained and we will continue to focus our activity in the nine countries in which we operate.”
The director of Bluehouse Capital, Victor Pizante, said: “We would like to express our appreciation to our colleagues at McArthurGlen for a decade of successful cooperation. We are confident that Athens Designer Outlet will continue its strong operating performance under Lamda’s ownership.”
RES-EMP
Read the News today and get the latest news. Follow Skai.gr on Google News and be the first to know all the news.
