ECE on the verge of closing €450m Spanish shopping centre buy

German shopping centre specialist ECE is reportedly closing on the acquisition of three shopping centres in Spain from a 50-50 joint venture of CBRE Global Investors and Sonae Sierra.

According to a news report by Spanish paper Eje Prime,the transaction amounts to over €450 mln and would represent the first acquisition by the German landlord following the purchase in 2010 of the Auxideico Gestión shopping centre management platform from ING Real Estate Development.

Contacted by PropertyEU, an ECE spokesperson declined to comment on the rumours.

The portfolio includes the Gran Casa shopping centre in Zaragoza, Valle Real in Cantabria and Max Center in Barakaldo, Bizkaia.


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