In Zagreb two shopping centers were sold to the real estate investment company Hyprop. The company acquired a 90 percent interest in the company that owns City Center one West and City Center one East. The transaction is expected to close by the end of March. The net purchase price is understood to be €154.4m. The company Hystead is owned by Hyprop with 60 percent stake and PDI Investment Holdings. The properties’ property and asset manager is WKB 3, while the operating company CC Real, will retain a 10 percnt stake in the centers following the completion of the deal.
With the deal, Hyprop’s portfolio of CEE shopping centers will grow to six centers in five CEE countries and its gross asset value exceeds to €740m. In July, Hystead acquired Bulgarian AP Retail I (the owner of The Mall in Sofia through its subsidiary Balkan Retail) for €156m. Hystead also owns Delta City in Podgorica, Montenegro, Delta City in Belgrade, Serbia and Skopje City Mall in Macedonia.
