Acquisition Completion

RNS Number : 5937C

Hammerson PLC

16 October 2015

 

Hammerson plc ("Hammerson")

Acquisition

16 October 2015

Hammerson completes the joint venture acquisition of a loan portfolio secured against prime Dublin retail property

Following the announcement on 29 September 2015, Hammerson is pleased to announce the completion of the acquisition of the Project Jewel portfolio of loans secured against market-leading retail assets in Dublin, Ireland, including Dundrum Town Centre, from Ireland's National Asset Management Agency ("NAMA"). The loans have been acquired through a 50:50 joint venture between Hammerson and Allianz Real Estate. As a result of completion, a payment of EUR1.85bn (Hammerson share EUR0.93bn) for the loan portfolio has been made to NAMA, less a 10% deposit already paid upon signing.

For further information

Timon Drakesmith, CFO

Tel: [phone]

Rebecca Patton, Head of Investor Relations

Tel: [phone]

Lindsay Noton, Head of Corporate Communications

Tel: [phone]

Notes to Editors

About Hammerson

Hammerson is a FTSE 100 owner, manager and developer of retail destinations in Europe. Our portfolio of high-quality retail property has a value of £7.9 billion and includes 20 prime shopping centres, 20 convenient retail parks and investments in 15 premium outlet villages, through our partnership with Value Retail and the VIA Outlets joint venture. Key investments include Bullring, Birmingham, Bicester Village, Kildare Village and Terrasses du Port, Marseille.

About Allianz

Allianz Real Estate is the strategic centre of expertise in real estate within the Allianz Group and a leading international real estate investment and asset manager. Allianz Real Estate develops and executes worldwide tailored portfolio and investment strategies on behalf of the Allianz companies, considering direct as well as indirect investments and real estate loans. The operational management of investments and assets is currently performed in six international subsidiaries and hubs in Germany, France, Switzerland, Italy, USA and Asia/Pacific. The headquarters of Allianz Real Estate are located in Munich and Paris. Allianz Real Estate has approximately EUR37.4 bn assets under management.

Operating in the Republic of Ireland and Northern Ireland since 1902, Allianz Group in Ireland employs over 1,450 people and is trusted by over 1 million customers as their business or personal insurer.

 

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