ING Real Estate Investment Management has acquired the 'Shopping Centre 17' retail park development in Brunn am Gebirge, Lower Austria. The retail park is being added to the portfolio of ING's Real Estate Property Fund Central and Eastern Europe (ING PFCEE). The fund was launched in December 2006.
ING Real Estate Investment Management has acquired the 'Shopping Centre 17' retail park development in Brunn am Gebirge, Lower Austria. The retail park is being added to the portfolio of ING's Real Estate Property Fund Central and Eastern Europe (ING PFCEE). The fund was launched in December 2006.
The 12,000 m2 retail park is located in a very popular retail area comprising 325,000 m2 of retail space, ING RE said in a press release. The project is currently leased to 14 tenants, including a Plus supermarket, fashion retailer Takko, drug store DM, shoe store Leder & Schuh and a standalone Mc Donald's. There are also 360 parking places.
'Retail in Austria is considered an attractive asset class and we are pleased with the first Austrian addition to our portfolio,' said Martin Sabelko, managing director of ING Real Estate Investment Management Central Europe.
