Germany's ECE Projektmanagement is buying the City-Passage shopping centre in Bielefeld, in the Ostwestfalen- Lippe Region.
Germany's ECE Projektmanagement is buying the City-Passage shopping centre in Bielefeld, in the Ostwestfalen- Lippe Region.
The vendors are RWI 40 and RWI 43, two funds managed by WestLB's Westfonds unit, according to a statement on the Bundeskartellamt website (the German cartel office). The purchase is being made for the group's ECE European Prime Shopping Centre Fund.
Built in 1977, the property offers 41,000 m2 of retail space across 75 shops.
The ECE European Prime Shopping Centre Fund has already acquired five malls in other European countries, including the 35,000-m2 SternCenter mall in Potsdam, the LindenCenter in Berlin and the 43,000-m2 Galeria Kaskada in Stettin, due to open later this year.
ECE declined to comment on the deal.
