Mainz, October 14,2008 - Westdeutsche ImmobilienBank AG (WestImmo) is financing the purchase of the Auchan shopping centre in Titan, in the east of Bucharest, to the tune of €73.5m.

Enjoying a prime location, the shopping centre has a gross floor area of some 55,000 m2 (with a lettable suface area of about 48,800 m2) as well as about 2,000 parking spaces. The property was developed in two phases, the first of these the erection of the Auchan hypermarket with adjacent shopping mall and the second a shopping centre extending over three floors. The Auchan hypermarket and the shopping mall are designed as a contiguous unit with a main axis in the middle.

Opened in November 2006, the hypermarket is let to Auchan Romania for 15 years while the shopping centre, which has a surface area of 14,000 m2, is let to national and international anchor tenants such as Starplex Cinema, Olympic Casino, Domo (an electrical retailer), Takko (a fashion store) and Springtime .

The borrower is Interalfa SRL, a Romanian property company. Deutsche Gesellschaft für Immobilienfonds mbH (DEGI) is acquiring the property through this company for its DEGI EUROPE RETAIL fund.

As an experienced partner for real estate investment, WestImmo offers its clients country-specific know-how in their key markets. Countries in central and southeast Europe in particular are enjoying above-average economic growth and offer good investment conditions.
WestImmo is the Center of Competence for real estate financing and structured real estate transactions in the WestLB group. It has offices in Berlin, Düsseldorf, Hamburg, Mainz, Münster and Munich and is also represented in London, Madrid, New York, Paris, Prague, Tokyo and Warsaw.