ECE Real Estate Partners launches preferred equity fund

ECE Real Estate Partners has launched the ECE Preferred Equity Fund, securing €100 million ($118 million) in capital commitments from institutional investors.

The new fund is backed by a portfolio of three German shopping centers valued at €500 million ($591 million). The retail assets include the Linden-Center Berlin, the Hallen am Borsigturm Berlin, and the Marstall in Ludwigsburg, which were previously held by the ECE European Prime Shopping Center Fund.

In addition, ECE Real Estate Partners issued a €100 million ($118 million) bond to finance the acquisition of the portfolio.

“With a wide range of everyday goods, our three centers have impressively demonstrated the stability and strength of neighborhood centers as an asset class in recent months,” said Volker Kraft, managing partner of ECE Real Estate Partners. “Our bond has received an investment-grade rating, which underlines the high quality of this portfolio.”

ECE Real Estate Partner