Real estate fund manager Europa Capital has carried out its second acquisition in Germany for its pan-European investment fund, Europa Fund III, by taking a controlling interest in Designer Outlets Wolfsburg. The financial details were not disclosed.
Real estate fund manager Europa Capital has carried out its second acquisition in Germany for its pan-European investment fund, Europa Fund III, by taking a controlling interest in Designer Outlets Wolfsburg. The financial details were not disclosed.
The designer outlet centre is one of 10 such existing centres in Germany, for which planning permission has been difficult to obtain.
The 11,640 m2 first phase of Designer Outlets Wolfsburg was opened in December 2007 and its 50 stores are fully let to fashion and sports brands. Europa will fund the development of the fully consented 6,000 m2 second phase, which it says is already significantly pre-let.
The centre was developed and is managed by Hans Dobke's Outlet Centres International, which also developed Germany's first outlet centre in Zweibruecken.
