German shopping centre specialist ECE has secured financing for its EUR 220 mln project Marmara Park in Istanbul days before the first foundation stone is due to be laid on 1 March. The investor is a closed real estate fund of DWS, which is taking over 50% of the planned shopping centre. The other 50% will remain in the hands of ECE and the family of Alexander Otto, CEO of ECE. Turkish lender Finansbank is financing the deal and providing a credit of up to EUR 115 mln.
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