Eurofund Group, Signal Capital Partners JV to invest €180m for German shopping center
Eurofund Group and Signal Capital Partners have formed a joint venture to purchase the 200,000-square-meter (2.2 million-square-foot) Rhein-Ruhr-Zentrum in a city in western Germany, according to media outlets.
The partners will invest a total of €180 million ($199 million) over the next few years, divided into two phases. The center will undergo a transformation into a unique, experiential “shopping resort”.
The Rhein-Ruhr-Zentrum is located in one of Germany’s largest conurbations, the Rhine-Ruhr region, with more than 10 million inhabitants. Due to its proximity to the city of Essen, the center also attracts visitors from the neighboring cities of Oberhausen, Duisburg and Düsseldorf, with good transport links offering the potential for further expansion of the catchment area.