The second center in Italy for the ECE Funds: The ECE European Prime Shopping Centre Fund II has acquired the units of Fondo Immobiliare Pompei, owning La Cartiera shopping center in Pompei.
Its anchor tenants are Conad, Mediaworld, H&M, Piazza Italia, Alcott, and Toys. Among the premium fashion retailers are Desigual, Guess, Conbipel, Marella, Motivi, and Gutteridge. The center is located in downtown Pompei near freeway A3 and has a catchment area of approximately 540,000 inhabitants who live within a 20-minute radius of the shopping gallery. ECE Italia will take over the property management and the leasing of the center on August 1.
Dr. Volker Kraft, Managing Director ECE Real Estate Partners: “Having acquired Megalò in Chieti with the first ECE Fund, this is our second investment in Italy. Since its opening, the center has achieved a strong market position in its catchment area in the south of the Gulf of Naples. With more than seven million visitors per year, La Cartiera has the best footfall of all shopping centers in the region. Its dominant market position makes our investment in Fondo Immobiliare Pompei a perfect addition to the Portfolio of the ECE European Prime Shopping Centre Fund II.”
Only a few days ago, the second ECE Fund had acquired its first center, Stern-Center in Lüdenscheid, Germany. The Fund is set to buy Zielone Arkady in the Polish city of Bydgoszcz at its opening in November.
The investors of the ECE European Prime Shopping Centre Fund II include sovereign wealth funds, pension funds, and insurances from Europe, Asia, and the United States, who contributed commitments of 740 million euros to the Fund. This equals a gross asset value of stock fixed assets of approximately two billion euros. ECE Fund II will continue the investment strategy of ECE Fund I and focus on acquiring existing European shopping centers with value-add potential. Its investment period will end in 2018.
Quelle: ECE
