SIII Closes Acquisition of AkCenter Shopping Center
Strategic Internet Investments, Inc. completes its acquisition of AkCenter Shopping Center as it continues to expand its real estate portfolio in Europe and the Middle East.
On July 18, 2016, SIII finalized the acquisition of the AkCenter in exchange for $66,000,000 in debentures. This purchase is the first step in a series of acquisitions in the coming weeks as SIII rapidly expands its commercial real estate portfolio.
AkCenter is an outlet center located in a rapidly developing area in Ankara with a high population density of young families. There are a total of 166 rental units covering approximately 18,500 square meters. AkCenter boasts 1,000 open air parking spaces as well as 250 indoor spaces. AkCenter is located only 200 meters from the metro station and is very accessible to new families in the region.
SIII’s strategy is to complete a series of commercial acquisitions this calendar quarter in its effort to build a portfolio of lucrative real estate properties throughout Europe and the Middle East.