German fund manager Real I.S. has announced the purchase of the Hamburger Meile shopping centre on the Hamburger Straße from a partnership of retail specialist ECE Projektmanagement and Hamburg-based developer Bruhn for around EUR 250 mln. The property will be transferred to a new closed-end fund of Real I.S. with the aim of marketing it to investors in the third quarter of 2011.
Empira Group, the €9bn AUM Swiss-based real estate investment company, has raised over $120 mln so far towards a $600 mln (€558 mln) fund target for a US vehicle.
