Freo Group, the pan-European investment manager and developer, is set to enter its third decade with a string of retail, office and hospitality project completions in four of its markets during 2017.
Freo's major retail completion will be the Mall of Switzerland in Lucerne, which will open in September 2017. The centre will comprise over 150 shops over a retail area of 46,000 m2 and 5,000 m2 of restaurant space, a 12-screen multiplex featuring Switzerland's largest IMAX screen, an indoor standing wave surfing experience as well as a health club and a children’s play area.
The mall will feature two separate zones, connected by La Strada, a promenade of selected premium brand Swiss and international brands. In the heart of the Mall will be Ebisquare, an open-air events and festivals space. Abu Dhabi Investment Authority is the investor.
In Germany, Freo already recently completed the sale of the 38,000 m2 East Side Mall shopping centre development in Berlin to RFR whilst in Nuremberg, Freo also sold its newly-built 139 key Adina Apartment Hotel redevelopment to Invesco Real Estate.
In London, the 25,000 m2 office redevelopment at 3 Minster Court owned by Ivanhoe Cambridge is due to complete in July 2017. In Paris, Freo is renovating the 35,000 m2 Pablo Picasso office building close to La Defense in Paris and is also comprehensively refurbishing a 3,500 m2 office on rue Vernier, located in Paris Centre West close to the central business district.
Expansiion to France and Spain
The development and renovation follows on from Freo celebrating its 20th anniversary in 2016, during which the company carried out its first acquisitions in France and Spain.
Freo completed its first acquisition in Paris in July by buying the Pablo Picasso office building in partnership with a British investment fund. A month later Freo joined forces with a US investment fund for its second acquisition in Paris on Rue Vernier.
Spain was next on the agenda. In October last year Freo made its first acquisition in the market by purchasing Orion, a modern office asset in the Manoteras sub-market of Madrid. The property was acquired from German fund manager Triuva.
Launched as FERI Real Estate in 1996, the company became Freo following a management buy-out in 2002 by Matthias Luecker. The company focused on investment management and development in Germany for the next 12 years before embarking on a European expansion in 2014. Today, Freo has over 100 employees in 15 offices and seven countries.
