Denmark's second-largest shopping center, Rosengårdcentret in Odense, celebrates the official opening of its new mall area today. The 20 new stores cover approximately 10,000 m² along the newly created “Purple Street” and include the Spanish fashion retailer Zara, which is opening its third shop in Denmark at Rosengårdcentret.
ECE European Prime Shopping Centre Fund and ATP Real Estate are investing more than €21.5 mln to refurbish Rosengårdcentret which was first opened in 1971. All renovations are scheduled to be completed by this fall.
Rosengårdcentret will then have approximately 180 shops on about 100,000 m² of leasable space. More than 7.5 mln people visit the center on the island of Fünen each year.
Dr. Volker Kraft, Managing Partner of ECE Real Estate Partners: “Together with our co-investor ATP Real Estate we are happy to present today the optimized concept of Rosengårdcentret with the new anchor tenant Zara. This represents a further contribution to our value enhancement strategy for the shopping center.”
The acquisition of Rosengårdcentret in March also marked the market entry of the ECE European Prime Shopping Centre Fund in Scandinavia. ATP Real Estate took over 25% of the center's shares in November 2013.