Issue 2011 May 17th

This issue was created on 2011-05-17 08:53:00

  • Acquisitions bolster funding in CEE and RussiaMay 17, 2011
Immofinanz Group acquired the remaining 25% stake in GoodZone, a shopping centre project currently under construction in Moscow. The parties have agreed not to disclose the price of this transaction. GoodZone is one of the largest retail projects in the Russian capital and the second-largest investment by Immofinanz in Moscow. The first phase of construction covers more than 50,000 sq m of selling space and completion costs of approximately euro85m. The second phase has a further development potential of 17,000 sq m.
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