With 70,000 sqm GLA, 137 shops and around 12 million visitors a year, Pep is one of the top 5 shopping destinations in Germany
Generali Real Estate and ECE Real Estate Partners have acquired the Pep Shopping Centre in Munich Neuperlach, as part of a 50/50 joint venture.
Generali Real Estate has acquired a 50% stake on behalf of the specialized pan-European ‘Generali Shopping Center Fund’ (GSCF) managed by Generali Real Estate S.p.A. Società di gestione del risparmio and reserved for professional investors. ECE Real Estate Partners has acquired the other 50% stake for the ‘ECE Progressive Income Growth Fund’. The vendor of the asset is Nuveen Real Estate (“Nuveen”), acting as Investment Advisor to the TIAA-CNP partnership, who owned the property in a joint venture.
You can read the full press release now at the link below