Citycon Oyj
Citycon Signed an Agreement to Acquire the Danish Shopping Centre Albertslund Centrum for approx. EUR 24 million

Citycon Oyj 

07.06.2012 11:30

Dissemination of a Adhoc News, transmitted by DGAP - a company of
EquityStory AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

CITYCON OYJ		Stock Exchange Release	7 June 2012 at 12.30 hrs

Today, Citycon has entered into an agreement to purchase shopping centre
Albertslund Centrum in Greater Copenhagen area in Denmark from the Municipality
of Albertslund for DKK 181 million (approximately EUR 24 million). The shopping
centre's gross leasable area is currently approximately 16,000 square metres;
the transaction includes a purchase of a grocery store extension which will be
bought at the time of its completion in the end of 2014. The extension will
increase the GLA to approximately 20,000 square metres. The occupancy rate of
the shopping centre is 97.5 per cent. On the acquisition date, the net initial
yield on the investment is approximately 7.5 per cent. The deal is expected to
be closed in July. 

TK Development acted as an advisor in the transaction. Citycon and TK
Development have signed an agreement regarding future management of the
shopping centre that enables Citycon not to hire any personnel in Denmark at
this stage. 

Albertslund Centrum is an open-air local shopping centre with 45 shops located
in the centre of the municipality of Albertslund approximately 17 kilometres
east of city centre of Copenhagen. The shopping centre is located next to the
train station which provides the centre with steady footfall. The shopping
centre is anchored by grocery tenants Superbest and Aldi. A third large
supermarket will open in the future extension. The shopping centre is a
community centre that serves as the social hub of the Albertslund municipality
providing, in addition to retail, municipal services, town hall, theatre,
cinema and offices. The municipality of Albertslund is going to further develop
the area in the near future. 

 'This acquisition reflects Citycon's commitment and ability to implement the
company's strategy of expansion to other Nordic countries. Our goal is to
accretively diversify our cash flows. The acquisition of neighbourhood centre
in the capital area is the first and solid step to the Danish market, 'says
Marcel Kokkeel, CEO of Citycon. 

Citycon will finance the acquisition from existing credit facilities in local
currency, in accordance with the company's financing policy. The acquisition of
Albertslund Centrum will increase Citycon's rental income and it is expected to
be accretive to Citycon's earnings per share. 

Following the acquisition, Citycon will own a total of 37 shopping centres in
Finland, Sweden, Estonia, Lithuania and Denmark. In addition, the company
manages two shopping centres in Finland without owning them. 

Helsinki, 7 June 2012


CITYCON OYJ

Marcel Kokkeel

For further information, please contact:

Marcel Kokkeel, CEO
Tel +358 20 766 4521 or +358 40 154 6760
marcel.kokkeel@citycon.fi

Distribution:
NASDAQ OMX Helsinki
Major media
www.citycon.com
News Source: NASDAQ OMX



07.06.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      Citycon Oyj
              
               
              Finland
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         FI0009002471
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------