EpiCentre K  has bought  Alta Center TC

EpiCentre K has bought Alta Center TC

16.02.2016 News

EpiCentre K has bought Alta Center TCEpiCentre K  has bought the Alta Center TC . The object has been pledged to the one of the commercial banks and sold to repay the debt to the financial institution. There are no any official comments from EpiCentre K for this moment.

The complex is owned by VK Development – a developer unit of the Retail Group (develops a network of the “Velyka Kyshenya” and so forth). “Since the deal has not closed, we will provide a detailed commentary after the completion of the transaction”, – reported in the press serve of the company.

Alta Center  was built and took into use in 2004. It is a three-floored building with a total area of ??22 000 sq. m, of which 17,000 are leased. The initial investor of the Alta Center TC acted Briz-Invest Ltd., which was the part of  the Textile Contact group. Investments amounted to approximately $ 17 million.

In 2008, the Alta Center  shopping center was sold to Davento company, which owns a developer unit of the Velyka Kyshenya. The transaction is valued at approximately $ 50 million. Now the Auchan hypermarket is situated with Alta Center and it makes  a good customer traffic.

Alta Center TC is a shopping mall with a new fashion format, combining shops with the most famous brands in the outlet format with permanent discounts up to 80%. According to informed sources, the tenants of the Alta Center  must vacate the premises before 1 March, and the complex is closed from February 15.

Co-owner of the EpiCentre K network, Galina Gerega in autumn confirmed the emergence of a new project, but with no details and indicators. “We are building a new “EpiCentre”, but will implement the project in a slow mode, because we are using our own funds, – says Galina Gerega. – If the economic situation improves, it will be realized at the end of 2016”.

Now, the Alta Center  shopping center can be demolished for the construction of this project.

Source: retai.net

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