MPC Properties has acquired the Delta City shopping centre in Belgrade from UK-based Hystead Limited for €115 million.
The €115 million purchase price comprises senior bank debt of €71 million, which is secured against the almost 30,000 sqm property, and equity debt of €44 million.
Hystead, which is 60% owned by South-African concern Hyprop Investments, acquired Delta City from Serbian developer Delta Holding in early 2016 for €127.8 million.
“By acquiring the Delta City shopping centre, MPC Properties is able to offer to tenants and business partners not only a quality and diverse portfolio but also the best market conditions for business development. Our long-term expertise in the development and management of the largest retail and office projects in the country, a well-coordinated team of international and domestic experts, the widest network of international and regional brands, but above all a stable and sustainable portfolio, make MPC Properties a reliable partner for business development and further upgrade. With this acquisition, our retail network has as many as five shopping centres and is the absolute leader in the domestic market and beyond”, said CEO of MPC Properties Maxence Liagre.
Sign up today for the latest news