Hamburg Trust has acquired a 78% interest in the Milaneo shopping centre development project in Stuttgart.
The investment volume for the whole project is around €400m. The acquisition is subject to regulatory approval.
ECE/Otto-Group is investment partner, holding a 22% stake in the scheme (pictured), and will be responsible for the planning, development and letting as well as the management of the centre. A consortium of Berlin Hyp/LBB and Helaba Landesbank-Hessen Thüringen will take over 50% of the €245m financing used for the development of the mall. Berlin Hyp/LBB will act as leading bank.
The shopping centre, to open in 2015, will have a total sales area of 43,000 m2 on three levels and 200 shops. It also will include 415 flats and a 160-room hotel.
It will be located in Stuttgart’s Europaviertel.
