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Corio buys 40 pct stake in Turkish shopping centre for 55 mln eur


Published : Thu, 08 Feb 2007 10:02
By : Agencies
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AMSTERDAM (AFX) - Corio NV said it acquired a 40 pct interest in the Teras Park shopping centre currently under development in Denizli, in the south west of Turkey, for around 55 mln eur.

Corio said the transaction reflects a net initial yield of around 8 pct once the centre is fully operational.

The shopping centre will comprise approximately 55,000 square meter gross letable area and is expected to open in the first half of 2008.

amsterdam@afxnews.com

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