Credit: ECE

ECE Real Estate Partners sell Haid-Center Linz

ECE Real Estate Partners have successfully sold Haid-Center Linz to institutional investors in a 130€ million transaction.

The Haid-Center with 80 stores on a sales area of around 35,000 sq m was acquired for the “ECE European Prime Shopping Centre Fund I” in 2012 and has since been comprehensively developed and upgraded through modernization and optimization of the tenant mix. The transaction is accompanied by Aareal Bank with a “green loan” financing. ECE will continue to be responsible for the management of the center.

After the sale of the “Avenida” shopping center in Poznań in February 2021, Haid-Center Linz was the last of twelve centers held by the fund launched in 2011 to be sold within the planned lifetime. Over the term of the fund, the target returns have been achieved and the invested equity almost doubled.

During the last two years which had been affected by the Corona pandemic, the shopping centers managed by ECE Real Estate Partners have proven to be very crisis resilient. Due to indexed leases with a corresponding sales component, retail properties offer an attractive return profile also in the current inflationary market environment.

Volker Kraft, Managing Partner of ECE Real Estate Partners says: “The transaction shows that professionally managed retail properties currently offer an attractive entry opportunity for long-term oriented investors. We will continue our investment strategy together with our investors and further expand our commitment with new products in this segment to take advantage of opportunities as they arise.”

Tags: , , ,

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Banksy exhibition at Citypark Graz attracts 40.000 visitors

After a total of 87 opening days, the "The Mystery of Banksy - A Genius Mind" exhibition about the world-famous graffiti artist and painter Banksy has attracted 40,000 visitors to Citypark Graz.

UŠĆE shopping center introduces its smart city parking station

UŠĆE Shopping Center is the first shopping center in the Balkans with a parking station for electric bicycles and scooters, directly benefitting the preservation of the environment.

Hines secures new Nike store in Denmark

Hines has secured Nike at ‘The Trinity Quarter’ in Copenhagen, marking the brand’s first new store opening in Denmark since the global pandemic.

H&M opens new store at Braehead center near Glasgow

Braehead, a retail and leisure destination owned by property company SGS and asset managed by Global Mutual Properties, announces that H&M opened the doors to its new store.

Out now: New issue “What the Consumer really wants!”

OUT NOW - LATEST ISSUE! +++ WHAT THE CONSUMER REALLY WANTS! - Whenever consumers face uncertainty, their behavior changes. While retailers have learned to be more innovative, guardrails are needed.

BIG Shopping Centers is Now the Official Owner of Delta City in Podgorica

BIG Shopping centers has fulfilled all the conditions for officially purchasing 100% of ownership of Delta City Podgorica on Thursday 19th of May.