Winmarkt centers, valued at 204 million €

Winmarkt centers, valued at 204 million €

The 15 Winmarkt shopping centers and a building, purchased this spring by IGD for 182.5 million euros, were assessed at the end of the first semester, to 204.1 million euros, according to the Italian company's semester financial report.

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Shopping malls have a market value of 56.3 million euros and an annual yield of investment recovery (yield) of 9.81% ,and the property which is rented to a bank, is valued at 4.1 million euros, with a yield of 9.13%, the report said.

Also, the company contracted from Italian banks loans of 30 million Euro over a period of five years for investments in Romania. Italian real estate group IGD (Immobiliare Grande Distribuzione) announced in late March, taking over the network of stores Winmarkt from the investment funds Ivington Enterprises Limited and Broadhurst Investments Limited, represented in Romania by Siminel Andrei.

Source: Standard Money, August 29, 2008