RFR Holding has acquired East Side Mall development from FREO Group in Berlin. The retail property with around 38,000m² of lettable space and around 760 parking spaces is scheduled to be completed by the end of 2018. The East Side Mall is part of the extensive surrounding area of the Anschutz area opposite the East Side Gallery. By 2020 the 20 hectare site will be transformed into a lively event location. The East Side Mall will be present in the immediate vicinity of the main train station, with approximately 85,000 passengers each day, the Mercedes Benz Arena with around 1.3 million visitors per year, or the East Side Gallery with around 8,000 visitors per day.
RFR acquired the East Side Mall through a so-called forward deal. The purchase price has not been disclosed. FREO was advised by BNP Paribas RE andFreshfields, RFR by Gleiss Lutz. The project financing was provided by HSH Nordbank.
