DGAP-News

IMMOFINANZ Group opens first VIVO! Shopping Center in Piła

DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate
IMMOFINANZ Group opens first VIVO! Shopping Center in Piła

17.10.2014 / 13:36

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In the Polish city of Piła, IMMOFINANZ Group has completed the first
shopping center in its new VIVO! retail brand. This weekend marks the
opening of roughly 24,000 sqm of selling space with well-known tenants that
include Carrefour, H&M, Deichmann, Media Expert, Reserved, LPP and many
more. This first VIVO! shopping center currently has an occupancy rate of
91%. The investment for IMMOFINANZ Group amounted to roughly EUR 32.0
million (approx. PLN 134.7 million).

"VIVO! represents a new brand for the retail sector, which we are
positioning between our established STOP.SHOP. retail warehouse concept, on
the one side, and our large shopping centers, on the other side, with
respect to size, orientation and offering. Poland is one of our key markets
and the current focus of our retail development activities. As a next step,
we are planning the further roll-out of VIVO! in Poland", indicated Eduard
Zehetner, CEO of IMMOFINANZ Group. The second VIVO! shopping center is
under construction in Stalowa Wola - a city in the south-west of Poland -
and is scheduled to open during the third quarter of 2015.

The characteristic features of the VIVO! concept include single-storey
construction and a focus on fashion and entertainment with strong anchor
tenants. The VIVO! concept is well-suited, above all, for secondary cities
in the CEE region with a population of 40,000 to 100,000 and a catchment
area of at least 200,000 persons.

The VIVO! shopping center in Piła is located near the downtown area and,
with its close proximity to the railway station and the national bus
station, is well integrated in the public transportation network - 700
parking spaces are also available on site. IMMOFINANZ Group took over this
retail property from the Polish developer Rank Progress and finalised the
sale at the end of August. As the new owner IMMOFINANZ also changed the
name of the shopping center: the former "Galeria Piła" was transformed into
"VIVO! Piła".

The following well-known tenants, among others, will join this first VIVO!
location: Carrefour, H&M, Reserved, House, CroppTown, Mohito, Sinsay, Media
Expert, Deichmann, CCC, Carry, Lee-Wrangler, 4F, Levi's-Mustang, Hebe, Gino
Rossi, Ryłko, Calypso fitness Club, Martes Sport, Empik and Smyk. Rentals
have already reached 91% of the available units.