EXPO REAL: DIFA acquires LAGO Shopping Center Konstanz

EXPO REAL: DIFA acquires LAGO Shopping Center Konstanz

Munich (EXPO REAL), 5. October 2004 – DIFA Deutsche Immobilien Fonds AG announced today at the EXPO REAL commercial property show in Munich that the company had added the recently opened “Lago-Center” in Constance, Germany to the portfolio of its open-ended real estate fund DIFA-Global. DIFA is acquiring a 68.9 per cent stake from Seeuferhaus Konstanz Grundstücks GmbH & Co. KG, which is part of DGAG Deutsche Grundvermögen AG, the developer and seller. DGAG will retain a share in the project and continue to manage the centre. Like DIFA, both companies are headquartered in Hamburg.

The shopping centre enjoys a unique location in Constance: the “Lago” is situated in the heart of the city centre near the pedestrianised zone and the shore of Lake Constance. Anchor tenants at the fully let complex include H&M, ZARA and the biggest Aldi supermarket in the entire region. In addition, there is a 3,500 square metre cinema with some 1,500 seats, a 1,400 square metre fitness centre, offices and apartments, as well as a multi-storey car park offering 710 parking spaces.

Constance lies at the centre of the triangle formed by the major cities of Stuttgart, Munich and Zurich, and benefits from close proximity to Switzerland. The Lago typically attracts 30,000 visitors a day, 35% of whom are Swiss. Around 5 million tourists flock to the Constance region every year. Spending power in the centre’s catchment area amounts to some 1.3 billion euros.

Press contact
DIFA Deutsche Immobilien Fonds AG
Real Estate Marketing, Communication
Dr. Susanne Kaschub
Caffamacherreihe 8, 20355 Hamburg, Germany
Tel: +49 40 3491 9139, Fax: +49 40 3491 9190