SOUTH AFRICAN FUND HYSTEAD AC­QUIRES ‘THE MALL’

Shopping Center News - - NEWSMAKER INTERNATIONAL -

South African fund Hystead has suc­cess­fully ac­quired The Mall, one of the largest shop­ping cen­tres in Bul­garia, lo­cated in the cap­i­tal city Sofia. The ac­qui­si­tion, up­wards of €156 mil­lion, rep­re­sents the fourth in­vest­ment in the re­gion by Hystead Lim­ited, a joint ven­ture be­tween Hyprop In­vest­ments and Homestead Lim­ited, who pre­vi­ously ac­quired the Delta City shop­ping cen­tres in Pod­gor­ica and Bel­grade along­side Skopje City Mall in Mace­do­nia at the end of 2016, ac­cord­ing to JLL.

Sit­u­ated on Tsari­grad­sko Shosse, the main boule­vard link­ing the cen­tre of the city with a num­ber of large res­i­den­tial neigh­bour­hoods, the air­port and the re­gional high­way net­work, The Mall was de­vel­oped in 2010 and ex­tends to over 52,000sq me­tres. It is an­chored by In­di­tex Group, P&C, H&M and Arena cinema and ben­e­fits from over 130,000 sq.mt. of of­fices in its im­me­di­ate prox­im­ity. Given its prime lo­ca­tion, pres­tige ten­ant mix and oc­cu­pancy stand­ing at 99 per­cent, The Mall is con­sid­ered to be the premier shop­ping des­ti­na­tion in the city.

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