October 25 (SeeNews) - UK-based shopping centre operator Hystead bought Skopje City Mall, the largest shopping centre in Macedonia, from Amsterdam-based Balfin Finance for 92 million euro ($99.86 million), Hystead's majority owner said on Tuesday.
Skopje City Mall has a retail gross leasable area of 37,600 sq m and 131 tenants, Hyprop Investments, owner of 60% stake in Hystead Hyprop, said in a statement published on its website.
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"Our objective is to own a high quality shopping centre portfolio in South-Eastern Europe," Pieter Prinsloo, Hyprop CEO, said.
Hystead possesses two more properties in Southeastern Europe - Delta City Podgorica in Montenegro and Delta City Belgrade in Serbia. Both were purchased earlier this year.
"Skopje City Mall’s high occupancy, promising footfall, balanced tenant mix and expansion opportunities ensure that it is an attractive investment," Prinsloo also said. "Our expectation is that the investment will enhance Hyprop’s income distributions," he added.
Hystead was founded in 2015 owns and operates shopping malls. It is co-owned by Hyprop Investments and PDI Investment Holdings.
Skopje has a population of some 534,000.
($=0.9213 euro)