Apsys and Euris / Rallye Group, advised by HSBC, achieve one of the biggest transactions of the year with Unilmmo Deutschland, Union Investment Real Estate AG’s fund, by signing the sale of Manufaktura, located in Lodz, the largest shopping center of Central and Eastern Europe.
Manufaktura: a “trophee asset”, a symbol of success
With a catchment area of more than 2.5 million inhabitants, Manufaktura has since its opening in 2006 the place of gatherings and festivities of Lodz (concerts, open-air films and other public events).
Located on a former textile factory of the nineteenth century, Manufaktura was able to revive historic buildings of red brick, meticulously renovated. In addition to the shopping center, the project includes three museums, a 4-star hotel and a conference center.
Manufaktura opened its doors on May 17, 2006. It develops GLA’s 112,000 sqm retail and leisure activities and offers 307 units and 2,955 parking spaces. Manufaktura was awarded the Urban Land Award of Excellence in 2007 and was awarded the Best European Shopping Center by the International Council of Shopping Centers (ICSC) in 2008.
The locomotives of this center are actors such as Real, Cinema City, Van Graaf, the group Inditex, Leroy Merlin, C & A, H & M, Alma, Media Saturn and many others.
Operation truly unique in its scale, architecture, commercial offer and location, Manufaktura revolves around a spectacular central square, called Rynek, which naturally guides visitors to the shopping, entertainment and cultural buildings of the site.
Manufaktura has received BREEAM Exploitation certification, Excellent level, for its sustainable management.
Strategic transfer for Apsys
The promise of sale, which has just been signed, concerns the acquisition of an area of 91,000 m² (excluding cinema and DIY store Leroy Merlin), will become effective at the end of 2012. At the request of acquirers, the Apsys company is entrusted with the complete management of Manufaktura for a first period of 10 years.
Maurice Bansay, Founding President of Apsys, says: “With this strategic divestment, our company is strengthening its financial structure and giving itself the means to fully ensure its future development in the Polish and French markets.”
Apsys has an ambitious development program of 450,000 m² (160,000 m² in Poland and 290,000 m² in France), representing a portfolio of 10 operations, including:
– Lacina in Poznan, a major project whose building permit has just been obtained for 100,000 m²
– Beaugrenelle in Paris, a highly anticipated operation in the commercial real estate market, which will open in the spring of 2013
– Les Rives de l’Orne in Caen, a new office, housing, hotel, shopping and leisure district, which will open spring 2013
– The Vill’up in Paris, a unique project that will combine new-generation entertainment, leisure, shopping and catering, whose work will start at the end of 2012 for an opening in 2014.
– Muse in Metz whose work will start in spring 2013, which will combine offices, housing, shops and cultural spaces
“We are proud of this transaction,” said Maurice Bansay. Union Investment demonstrates its confidence in Apsys’ know-how as a long-term operations developer and manager. ” Thus, the company consolidates its position of leader in its management business for third parties: to date, Apsys manages 20 shopping centers, which represents more than 600,000 m² of commercial space.
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