To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionGenerali Real Estate, ECE Real Estate Partners acquire Pep Shopping Center in Munich
Generali Real Estate and ECE Real Estate Partners have acquired the Pep Shopping Centre in Munich Neuperlach, as part of a 50-50 joint venture.
Generali Real Estate has acquired a 50 percent stake on behalf of the specialized pan-European Generali Shopping Center Fund managed by Generali Real Estate S.p.A. Società di gestione del risparmio and reserved for professional investors. ECE Real Estate Partners has acquired the other 50 percent stake for the ECE Progressive Income Growth Fund.
The vendor of the asset is Nuveen Real Estate, acting as investment adviser to the TIAA-CNP partnership, which owned the property in a joint venture.
With around 12 million visitors a year and generating more than €250 million ($273 million) a year in turnover, Pep Shopping Centre enjoys a dominant
