RREEF Investment has reached agreement with developers ECE Projektmanagement and Strabag Real Estate on a 94.9% stake in the company established to realise the Forum Mittelrhein shopping centre in Koblenz. Total investment in the project is put at around EUR 145 mln. The stake will be added to RREEF’s Grundbesitz Europa open-ended fund. ECE and Strabag will retain a 5.1% interest in the company.
RREEF Investment has reached agreement with developers ECE Projektmanagement and Strabag Real Estate on a 94.9% stake in the company established to realise the Forum Mittelrhein shopping centre in Koblenz. Total investment in the project is put at around EUR 145 mln. The stake will be added to RREEF’s Grundbesitz Europa open-ended fund. ECE and Strabag will retain a 5.1% interest in the company.
Preparatory construction work on Forum Mittelrhein started in August this year. The project comprises a five-storey cultural complex over 12,000 m2 and a shopping centre covering around 20,000 m2 with 80-90 retail units, restaurants and cafes. The two will be divided by a 6,000 m2 urban square. The entire scheme is expected to create around 600 long-term jobs.
Forum Mittelrhein was designed by Dutch architects bureau Benthem Crouwel and is being built by Ed. Züblin.
