ING Real Estate Investment Management has acquired the Stadtgalerie Heilbronn mall development from ECE Projektmanagement for about EUR 100 mln. ECE will retain the management of the shopping centre, which is scheduled to open in the spring of 2008.
ING Real Estate Investment Management has acquired the Stadtgalerie Heilbronn mall development from ECE Projektmanagement for about EUR 100 mln. ECE will retain the management of the shopping centre, which is scheduled to open in the spring of 2008.
The complex is being developed in Germany's southern city of Heilbronn and will provide some 13,000 m2 of retail space across three storeys with 70 shops. It will also include 660 parking spaces. Some 90% of the retail space has already been leased, ING RE said in a press release. 'The Stadtgalerie Heilbronn is an up-scale shopping centre development in one of the most prestigious locations in the city,' said ING's head of European acquisitions Will Rowson.
