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The retail real estate specialist MEC, national market leader for the management of retail parks, is building its strong market position with the addition of 25 specialists in the areas accounting and contract management. The employees at the MEC Competence Center in Saarbrücken will become part of the MEC team in the course of a transfer of operations from Metro Properties.

The European Council of Shopping Places (ECSP), the association which provides a dedicated voice for the European retail property sector, has released its position paper responding to the financial impact of Covid-19 on the retail property sector. The uncertainty of repeated lockdowns, the inconsistent approach of different governments, and the overly onerous focus on retail property owners to support an industry in crisis is not sustainable.

Real estate investor Altera Vastgoed NV (hereinafter: Altera) has sold the retail property at Lijnbaan 81 in Rotterdam. The property is over 400 sq. m and is let to fashion retailer Mango.

“It would have been naive to think that, somehow, the Eastern countries could have transitioned from communism to laid back consumerism without going through the small versus big Kulturkampf that we have all experienced.” | By Michael MacBrien

Deka Immobilien GmbH has acquired a retail park in Sweden for around EUR 70 million. Aberdeen Standard Investments European Real Estate Club II sold the property, which will be added to the portfolio of the WestInvest TargetSelect Shopping sector fund for institutional investors.

Sierra Fund (a pan-European retail fund in which Sonae Sierra has a stake of 50.1%) and the Retail Property Fund Iberica (RPFI), which is managed by CBRE Global Investors, have sold the La Farga Shopping Center (Hospitalet de Llobregat, Barcelona) to Temprano Capital Partners.

The acquisition signals the return of Multi Corporation to the United Kingdom where it had a significant presence between 2001 and 2021 having developed or managed major retail destinations across the country including the Southgate Centre in Bath, Victoria Square in Belfast, and Glasgow’s St Enoch center. In addition, Multi will also enter Denmark through this investment.