Germany's Mfi bags Gera Arcaden mall for EUR 107m

German shopping centre specialist Management für Immobilien is buying the Gera Arcaden shopping centre in Thüringen for EUR 107 mln. The vendor is WestFonds 4 Gera Arcaden KG, a fund managed by WestLB, the real estate arm of German bank WestLB.

Located in the heart of the city, the mall provides a total of 32,000 m² of retail space let to major tenants such as Douglas, C&A, and Deichmann. Law firm Freshfields Bruckhaus Deringer advised the buyer.

Mfi, which is majority owned by private equity firm Perella Weinberg, is also rumoured to be the buyer of the Gropius Passegen in Berlin being sold by Unicredit's WealthCap. The German property investor said last week that it has received approval from investors in the closed-end HFS Immobilien Deutschland 11 fund to divest Gropius Passegen for a total of EUR 341 mln.

The scheme in the city's Neukölln district is one of the largest shopping centres in Berlin, covering some 85,000 m² of retail space over 180 shops.

Earlier this year Mfi also bought the Löhrhof Center shopping centre in the Ruhr region, a 50% stake in the Paunsdorf Center in Leipzig, and the Ruhrpark shopping centre in Bochum, Germany, through Perella Weinberg.