Australia's Macquarie CountryWide makes first foray into European property mkt |
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Published
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Wed, 18 Apr 2007 02:53
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SYDNEY (XFN-ASIA) - Macquarie CountryWide Trust said it has made its first foray into the European property market, acquiring 5 hypermarket anchored shopping centers in Poland and two shopping centers in Germany in separate transactions for a total of 351 mln eur.The Macquarie Bank Ltd managed trust said the acquisitions establish a strong platform to further grow earnings in Europe and will have a combined yield of 6.5 pct pre-acquisition costs.Macquarie CountryWide said the 5 sub-regional shopping centers in Poland will be acquired for 232 mln eur. The properties are located primarily within Poland's southern major cities and are each anchored by a Carrefour hypermarket.The German shopping centers are being acquired for 119 mln eur from Germany's second largest grocer, the Rewe Group.(1 usd = 0.74 eur)bruce.hextall@xfn.com
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