Lamda Development’s total investment after the acquisition of McArthurGlen Designer Outlet Athens is estimated at 109 million euros

The total investment of Lamda Development, after the acquisition of McArthurGlen Designer Outlet Athens, is estimated at 109 million euros.

As is also made clear the value of the property amounts to 109 million euros (Gross Asset Value), while the loans received by the company that owns the property are approximately 70 million euros from a banking institution and 18 million euros from its shareholders, therefore the company’s Net Asset Value amounts to approximately 20 million

With the acquisition of the company, Lamda Development proceeded to repay the loans of the old shareholders and therefore the total cash price paid by Lamda amounts to approximately 40 million euros.

Also read: Lamda Development subsidiary purchases McArthurGlen outlet mall for 40mln€

As reported by the company, McArthurGlen Designer Outlet Athens is the leading discount village in Greece with a total leasable area of ​​approximately 21,200 sq.m. and more than 100 shops, cafes and restaurants. The occupancy on 30.06.2022 was approximately 95% while the total traffic in full and unhindered operation conditions (in 2019, before the pandemic) was approximately 4.2 million visitors per year.

Commenting on the transaction, the CEO of the LAMDA Development group, Mr. Odysseas Athanasiou, noted that through the acquisition of a leading player in the Lamda has strengthened its leading position in Retail.

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