STOCKHOLM, Aug 7, 2018 /PRNewswire/ -- The EQT Real Estate I fund has acquired Allee Center, a modern shopping center located in a high-density residential area in Grünau, a suburb of Leipzig. The Allee Center was built in 1996 and comprises around 40,000 square meters of rental space.
The center was sold by Investa Real Estate via Colliers International. The transaction represents the fund's eighth investment to date and third into Germany. Investa Real Estate was advised by Clifford Chance and Drees & Sommer.
'We're excited to be an integral part of the rapid growth of Leipzig in general, and Grünau in particular. Together with the center manager ECE, we hope to make an important positive contribution to the further development of the area" says Frank Forster, Director at EQT Partners and advisor to the fund.
EQT Real Estate has been advised by JLL, Ashurst and Arcadis. HSH Nordbank provided the senior acquisition facility for the acquisition of the shopping Center.
Director at EQT Partners
Investment Advisor to EQT Real Estate I
Partner and Head of EQT Real Estate at EQT Partners and Investment Advisor to EQT Real Estate I
EQT Press Office
EQT is a leading alternative investments firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More info: www.eqtpartners.com
About EQT Real Estate I
EQT Real Estate I will seek to make direct and indirect controlling investments in real estate assets, portfolios and operating companies that offer significant potential for value creation through repositioning, redevelopment, refurbishment and active management. The investments will typically range between EUR 50 million and EUR 200 million. The fund is advised by an experienced team from EQT Partners, with extensive knowledge of property investment, development and intensive "hands-on" asset management, and with access to the full EQT network, including 10 European offices and more than 250 industrial advisors.
About Investa Real Estate
Investa Real Estate develops and manages real estate in Germany for over 45 years. The company's focus is in the development of high quality office and administrative buildings, hotels and healthcare real estate. Since 2013, Investa Real Estate has been developing innovative investment models for institutional investors.
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The following files are available for download:
Press release EQT Real Estate I Allee Center 180807.pdf
SOURCE EQT AB