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P+P advises ECE Real Estate Partners on the launch and fundraising of the ECE Preferred Equity Fund

The Luxembourg fund manager ECE Real Estate Partners held the closing of its first Preferred Equity Fund in August 2020. P+P advised ECE Real Estate Partners as an external capital management company on legal and tax matters of the structuring and fundraising of the ECE Preferred Equity Fund.

The investment volume amounted to over 200 million euros. This amount was raised through the issue of fund shares and partly through the issue of bonds. The Otto family participated in the fund as a sponsor.

The portfolio of the ECE Preferred Equity Fund consists of three shopping centers in Germany, the Linden-Center and the "Hallen am Borsigturm" in Berlin and the Marstall in Ludwigsburg. The portfolio was taken over from its predecessor fund, the ECE European Prime Shopping Centre Fund, at the end of its regular term.

P+P advised ECE Real Estate Partners, as with its predecessor funds, on all contractual, tax and regulatory aspects of fund structuring, contract documentation and negotiations with investors with the following Frankfurt private funds team:

Luxembourg-law aspects were advised by Arendt & Medernach, bond-specific aspects by Allen & Overy.

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