ECE fund acquires G3 shopping centre in Vienna

The ECE European Prime Shopping Centre Fund has bought the G3 shopping centre in Vienna from developers BAI Bauträger Austria Immobilien and Ekazent Realitätengesellschaft.

The financial details were kept confidential.

ECE said that it will take over management and leasing of the centre which opened in October 2012.

Designed by architects ATP Architekten und Ingenieure, G3 Shopping Resort Gerasdorf consists of 120 shops on a sales area of 50,000 m2 and 3,670 parking spaces. Retailers Primark, Saturn, Merkur, Peek & Cloppenburg and H&M are among the anchor tenants.

The complex also comprises a retail park with a sales area of 10,000 m2 and 20 shops as well as 350 additional parking spaces.

ECE said that following the latest acquisition, the ECE European Prime Shopping Centre Fund is now almost fully invested. The vehicle owns two malls in Austria, including Haid Center Linz. In terms of property management, ECE Austria also operates City Arkaden Klagenfurt, DEZ Innsbruck as well as BahnhofCity Wien West.

This autumn, ECE will also take over the centre management of the BahnhofCity Wien Hauptbahnhof project. 'ECE is still en route to expansion in Austria and seeks to acquire further management contracts or centres for the fund,' the company said.