Commerz Grundbesitz invests in Portugal

A few days ago, Commerz Grundbesitz Group (CGG) signed the deed for the project Montijo Retail Park which is located in Lisbon`s quarter Montijo. The property is earmarked for hausInvest europa, Europe`s largest open-ended property fund. The acquisition volume comes to approximately 30 million euros.

The completion of the property is scheduled for the end of 2008.

Montijo Retail Park will cover 17,700 m² net lettable area with 350 aboveground parking spaces and 450 underground parking spaces.

The catchment area within a radius of 10 driving minutes will cover 300,000 people. Around 630,000 consumers can visit the retail park within a radius of 20 minutes.
„With regard to the above-average positive development of the Portuguese economy, the dynamic growth of its population and the rising of private consumption we expect that our shopping centres in Lisbon will benefit from this trend,” says Dr. Frank Pörschke, Chairman of the Board of Managing Directors of CGG.

Meanwhile, Commerz Grundbesitz gathered 10 years of experience in Portugal since its market entry in 1997. By then, the Group became the pioneer among German investors in the Portuguese commercial property markets.

A Word on Commerz Grundbesitz:
Commerz Grundbesitz counts among the global leaders in real estate asset management, managing open-end property retail funds along with institutional open-end property funds and REITs. The Group currently manages real estate with a volume of approximately Euro 13 billion worldwide. With foreign real estate assets of more than Euro 10 billion, 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 more than Euro 8.2 billion Europe’s largest open-end property fund.
In March of 2004, CGI started hausInvest global, an open-end fund with investments worldwide and a fund volume now worth approximately Euro 1.5 billion. The market share of CGI in the overall volume of mutual real estate funds currently exceeds 12%. So far, more than 400,000 investors have invested in CGI funds.

Dietmar Müller, Press Spokesman,
Commerz Grundbesitz Gruppe, Kreuzberger Ring 56, D - 65205 Wiesbaden
E-mail: dietmar.mueller@cgi.de
Internet: www.hausinvest.de
Tel.: 0049 - 0611 – 7105 – 385