As reported previously in October, the transaction was first assessed by the Office for the Protection of Competition (UOHS); however, the deal is official.
With a total floor area of around 60,000 m², including 17,500 m² of office space, Palladium is one of the CEE region’s most recognisable urban retail destinations. The center offers over 800 parking spaces and hosts 180 stores, occupied predominantly by leading local and international brands, including several flagship formats.
Stakeholder Statements
Laura Roll, Senior Investment Manager Retail at Union Investment, said:
“Palladium is a success story for the UniImmo: Deutschland fund, from its acquisition to its successful exit after a holding period of around 10 years. The timing of the sale at the beginning of the new market cycle is perfect. The property has generated positive long-term cashflow and a high-level of income stability for the fund over one decade and achieved high value gains.”
Henri Eisenkopf, Director Transaction Shopping Places at Union Investments, also highlights:
“We have now successfully capitalised on the renewed interest in dominant and high-quality Hashtag#retail assets in Europe to achieve a record high sales price, which we will use to further develop the fund’s portfolio through targeted Hashtag#reinvestments in European gateway cities.”
