2007-07-25

Message delivered via Commerz Grundbesitz Gruppe. The emitter takes responsibility for the content.

Japan | Renting Expansion Shopping Center International

Commerz Grundbesitz Expands in Japan

Japan: Fully Let Shopping Centre Acquired for hausInvest global

Just days ago, Commerz Grundbesitz Gruppe signed the deed for the Commercial Mall Hakata in Fukuoka, Japan, a property with an investment volume of approximately 55 million euros. The shopping centre, which has a gross lettable area of about 9,700 m², was sold by a subsidiary of Credit Suisse Asset Management.

The Fukuoka conurbation with its population of nearly five million is located on Japan’s southern-most main island Kyushu. The property is located in the Hakata district, which has developed into a second downtown because of the main railway station and the international airport. The fully let mall has the character of a retail park, and borders one of the main arteries in this booming young city district. On the one hand, it benefits from customers residing in surrounding quarters, while on the other hand, it shows a high percentage of spontaneous shoppers due to the great traffic connections of the location.

“Japan is a very interesting real estate market for Commerz Grundbesitz Group, especially in the retail business sector. For the world’s second largest economy is experiencing a substantial boom that in turn leads to an increase in consumer spending. That is why we see a great long-term potential for our investments in Japan, and why we will continue to expand out commitment in this country,” says Dr. Frank Pörschke, Chairman of the Board of Managing Directors of Commerz Grundbesitz Gruppe.


About Commerz Grundbesitz:

Commerz Grundbesitz counts among the global leaders in real estate asset management, managing open-end property retail funds along with institutional property funds and REITs. The Group currently manages real estate worldwide with a volume of approximately 12 billion euros in 15 different countries. With foreign real estate assets of approximately 10 billion euros, and a gross lettable area of about 3 million m2, Commerz Grundbesitz Group is one of Europe’s largest real estate investment houses.

The Group includes Commerz Grundbesitz-Investment GmbH (CGI), a capital investment company founded in 1992, which manages the Group’s retail funds. These include the market leader hausInvest europa, with a fund volume of approximately 8.7 billion euros Europe’s largest open-end property fund.

In March 2004, CGI started hausInvest global, an open-end fund with investments worldwide and a fund volume now worth more than 1.7 billion euros. By founding the French investment trust CeGeREAL in 2006, Commerz Grundbesitz Group became the first German real estate company to launch a REIT, and to develop it in-house.

Press contact:

Markus Esser
Press Spokesman of Commerz Grundbesitz Group
Kreuzberger Ring 56
65205 Wiesbaden, Germany
E-mail: markus.esser@cgg.de
Internet: www.cgg.de
Tel.: +49 (0)611 - 7105 - 485

Markus Esser Commerz Grundbesitz Gruppe - 2007-07-25

Announcement by Commerz Grundbesitz Gruppe. The originator takes responsibility for its content.