ATP Ejendomme Waterfront
3
Aug
2015

ATP Real Estate Invests EUR 212 million in Shopping Centre

ATP Real Estate has acquired the shopping centre Waterfront located in Bremen, Germany. ATP Real Estate has purchased 95 per cent of the property and German ECE/Otto Family has purchased the remaining 5 per cent.

This is ATP Real Estate’s first direct investment in a shopping centre outside Denmark. It is also one of the largest direct, international real estate investments by a Danish real estate investor. The investment is part of ATP Real Estate’s strategy to focus on larger direct investments abroad.

The shopping centre comprises a sales area of 44,000 sqm with more than 8 million visitors per year. It is fully let with 120 retailers which include such well-known brands as Primark, Media Markt, H&M, Intersport and New Yorker. The shopping centre has many high-quality tenants with long-term leases.

ECE Projektmanagement GmbH & Co. KG will be the future operater of Waterfront. ATP Real Estate and ECE have previously partnered in connection with other investments - one being the shopping centre Rosengårdscenteret in Odense, Denmark, where ATP Real Estate holds an ownership interest of 33 per cent.

CEO at ATP Real Estate, Michael Nielsen, says
“The Waterfront shopping centre is an attractive investment as it is in line with ATP Real Estate’s strategy to generate long-term income and cash flows by investing in properties in prime locations and with low risk. We have previously announced ATP Real Estate’s increased focus on this type of real estate assets in Denmark as well as internationally. The Waterfront investment should be seen as a step in executing this strategy. We are pleased to expand  our cooperation with ECE, who we consider one of Europe’s leading shopping centre operators.”

CEO at ECE Real Estate Partners GmbH, Volker Kraft, says
“With the Waterfront acquisition we are able to continue our long-standing, successful partnership with ATP. We are pleased with this further development of our partnership and thank ATP for the trust they have in us.”

About the Property
Waterfront opened its doors in 2008 and by 2014 had 8 million visitors. The shopping centre is very well maintained and modern. It features a good mix of fashion shops, a cinema complex, a large food court with cafés and restaurants, and 4,000 car parking spaces, many in the basement parking garage.

Waterfront is 6 km from the Bremen city centre close to the river Weser and within walking distance of buses and light rail.
 
About ATP Real Estate
ATP Real Estate is Denmark’s largest real estate investor with a portfolio of EUR 4,5 billion. Its investments are both domestic and international. Among the most prominent properties in the portfolio are: North Galaxy in Brussels, Belgium, UN City in Copenhagen, Christiansbro in Copenhagen, DONG in the city of Gentofte north of Copenhagen, Office buildings at the Langelinie quay in Copenhagen, Aalborg Storcenter (shopping centre) in Denmark, and the latest development Axel Towers at Axeltorv in the Copenhagen city centre.

ATP is one of Europe’s largest pension funds with 4.8 million members and total assets of EUR 103 billion.

About ECE Projektmanagement
ECE is the largest specialist shopping centre operator and developer in Europe, structured as a fully vertically integrated organisation with 3,600 employees across 16 countries. ECE currently manages 196 shopping centres across Europe. ECE is privately held by the Otto Family which holds an ownership interest in many of the centers.

For more Information please contact
Michael Nielsen, CEO ATP Real Estate, mn@atp-realestate.dk, p: +45 20 30 49 60.

Written by
Vibeke Sommer Asklund
Director, HR, Comm. & Digital Dev.