South Africans buy two malls for EUR 200 mln
Investment & financeschedule 15 February 2016
Delta City Podgorica was sold for EUR 75 mln
1 / 1
SERBIA/MONTENEGRO South African shopping centre REIT Hyprop Investments has acquired a 60 pct stake in Serbian mall Delta City Belgrade purchased from Delta Real Estate Group (Delta), and Montenegrin mall, Delta City Podgorica, purchased from Hemslade Trading Limited Cyprus (Hemslade) and Delta. Homestead Group Holdings Limited, a company associated with Louis Norval, a non-executive director of Hyprop, has acquired the remaining 40 pct of both shopping centres.
The total value of the purchase comes to EUR 202.75 mln, of which Hyprop’s effective share is EUR 121.65 mln. Delta City Belgrade was purchased for EUR 127.75 mln, of which EUR 111.94 mln is payable to Delta and the remainder will be used to settle existing debts. Delta City Podgorica has been acquired for EUR 75 mln, of which EUR 60.15 mln is payable to Delta and Hemslade and EUR 14.85 mln will be used to pay debts. UK registered company Hystead has been set up for the ownership of both shopp
Already have an account? Log in
71% of content remaining
Unlock full access to the article
PLN
EUR
Lifetime access to current material
One-time payment, lifetime access.
Choose
Access includes
- Lifetime access to current material
Most popular
EurobuildCEE magazine & online subscription
Access to all EurobuildCEE materials
Monthly
Annually
You save 17% when paying annually
Monthly on one device. Annual payment
Monthly on one device. Monthly payment
Choose
Access includes
- Access to EurobuildCEE magazine edition online & flipbook version
- Exclusive news, comments, articles and interviews with the most important market representatives and experts
- Archive containing data and information from the commercial real estate and construction market in Poland and the CEE region, collected over 27 years;
- Eurojobs
- Eurobuild FM
A good foundation from which to grow
A good foundation from which to grow
CBRE
Poland's role and the strength of its economy are increasingly visible in the European commercial real estate market. We have strengthened our leading position in Central and Easte ...
Zero-emission, zero-backup? The resilience gap in modern building standards
Zero-emission, zero-backup? The resilience gap in modern building standards
Independent Expert
As commercial buildings move rapidly toward full electrification, modern standards optimise for efficiency and emissions – but largely assume uninterrupted power supply. In C ...
Strong warehouse sector whilst capital cautious and offices yet to rebound
Strong warehouse sector whilst capital cautious and offices yet to rebound
Newmark Polska
Poland’s commercial real estate market enters 2026 in good health and with solid growth potential. Warehouses remain one of the strongest sectors in Europe, while constrained ...