Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)
Issue link: https://sct.epubxp.com/i/122387
Manufaktura, in lodz, poland, Sold for €390 Million ($509 Million) laSt year. FligHt to Quality risk-Averse investors turn to europe's top-tier properties E By Steve Bergsman urope's rolling currency crisis last year scared off a lot of retail real estate shoppers. total investment volume fell to roughly €19.3 billion (about $25 billion) from €32 billion the year before. those investors, who still liked to be in europe, proved to be risk-averse — to be looking for wealth preservation rather than revenue enhancement, in other words. thus, the global institutions were interested in one class of retail only: the 'a' locations in the core countries, which, in regard to retail, generally refers to the u.K. and germany exclusively. 204 SCT / M A Y 2 0 1 3 With a few exceptions, notably cyprus and greece, the political and