ACROSS | The European Retail Real Estate Magazine

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GTC DISTRIBUTES ITS M-SERIES DIVIDEND SHARES

Thomas Kurzmann, GTC’s CEO. Image: GTC

On its path of growth, GTC announces that it has paid dividend of 0.33 PLN per share.

Eligible investors are recommended by the Management Board to subscribe for dividend in the form of shares. 4 funds holding 73% of GTC share capital have elected to receive shares and subscribed for 13.233.492 M series shares.

“We managed to secure attractive value for our shareholders thanks to our self-propelling growth, including expansion of our portfolio and strong refinancing activity in 2017. We are very satisfied that major shareholders decided to reinvest their dividend proceeds into new shares benefiting further from the growth that we offer. With acquisition of the Mall of Sofia in April this year and realization of the development pipeline, our FFO further increases and we are confident to provide additional dividend capacity by the end of 2018”,  said Thomas Kurzmann, GTC’s CEO.

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Czech investors changing the ownership of Forum Poprad in Slovakia

Multi Corporation and GEMO HOLDING have sold the Forum Poprad shopping centre in Poprad, Slovakia. The asset has been acquired by the real estate fund of ZFP Investments and MAT Corporation, part of the DBK group. The sellers have been advised by the real estate services provider Cushman & Wakefield. The transaction closed on December 7, 2018.

DESIGNER EXCHANGE STRUT INTO THE KING’S ROAD WITH FLAGSHIP OPENING

Sloane Stanley has announced that Designer Exchange, the luxury designer clothes and accessories retailer, has opened on the King’s Road. The 1,352 flagship store is the largest in their portfolio and the first to stock clothing and shoes.

Romania: Colosseum Mall starts construction

The construction of Colosseum Mall has begun as part of the expansion plan of Colosseum Centre. Located in district 1 of Bucharest and open since 2011, Colosseum is expanding following the last years of increased business and improved market conditions.

ECE extends pilot phase of the online product search “Digital Mall” to five centers

ECE advances the development of its centers to digital platforms: Effective today, the “Digital Mall” will be extended to five pilot centers and will thus be available at five shopping centers.

ILG acquires further part of Rathaus-Galerie Dormagen, Germany

Munich-based ILG Group has bought the remaining part of the Rathaus-Galerie in Dormagen as of December 1, 2018 from a private owner, for the open-ended special-AIF “ILG Einkaufen Deutschland I”.

Citycon sold a shopping centre in Rovaniemi, Finland

Citycon has sold shopping centre Sampokeskus in Rovaniemi, Finland to a fund managed by Trevian AIFM. The total purchase price amounts to approximately EUR 16 million, which is close to the asset’s latest IFRS fair value. The transaction was closed on 30 November 2018.