ECE鈥檚 European Prime Shopping Centre Fund has bought the Haid Center near Linz in Austria from the Inter Ikea Centre Group. The parties agreed not to disclose financial details.
ECE鈥檚 European Prime Shopping Centre Fund has bought the Haid Center near Linz in Austria from the Inter Ikea Centre Group. The parties agreed not to disclose financial details.
ECE will also take over the management and leasing of the centre, which is to be extended and refurbished in the next few years.
Opened in 1991 and expanded in 2000 and 2008, the Haid Center provides around 80 shops on a sales area of more than 35,000 m虏. Anchor tenants include Maximarkt, Sports Experts, Saturn, H&M, C&A, Humanic, and New Yorker as well as Toys鈥橰鈥橴s.
Commenting on the acquisition, Volker Kraft, managing director of ECE Real Estate Partners, said: 鈥楾he Haid Center has strong regional pulling power with a focus on food and consumer goods. We want to realise appreciation potential in the upcoming years with an extension and refurbishment.鈥�
The acquisition strengthens ECE鈥檚 position in Austria, where it already operates City-Arkaden Klagenfurt, DEZ Innsbruck as well as BahnhofCity Vienna West. From 2014, ECE will also take over the management of BahnhofCity Vienna Central Station, where it is also planning a hotel and office building.
ECE's Prime European Shopping Centre Fund focuses on the acquisition of existing shopping centre with value appreciation potential.
