RREEF invests in Forum Mittelrhein shopping center in Koblenz (DE)

For the start of the construction of the Forum Mittelrhein shopping center at the Zentralplatz square in Koblenz, the project partners ECE and STRABAG Real Estate reached an agreement with the RREEF Investment GmbH for the takeover of a 94.9 % share in the project company for the open real estate fund 'grundbesitz europa'.

Forum Mittelrhein

Forum Mittelrhein is scheduled to be completed by autumn 2012.

ECE and STRABAG Real Estate will hold a minority share totaling 5.1 %. The investment volume amounts to around €145 million.

The preparatory works for the construction project started in August; by autumn 2012, Forum Mittelrhein is scheduled to be completed. Next to the shopping gallery with a sales area of around 20,000 m² and approx. 80 to 90 specialist stores, restaurants and cafés, a five-story culture building is being constructed with a floor space of ca. 12,000 m². Between the two buildings it is intended to create an approx. 6,000-m² large urban square. With the Forum Mittelrhein, some 600 jobs are to be generated permanently.

Ed. Züblin AG is constructing Forum Mittelrhein according to a concept by Benthem Crouwel architects. The architectural office based in Amsterdam and Aachen won the top-class architectural competition in 2008.

Source: ECE

Related News