P+P advises ECE Real Estate Partners on the launch 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:
- Dr. Peter Bujotzek (partner)
- Dr. André Blischke (senior associate)
- Maximilian Th. Broese (associate)
Luxembourg-law aspects were advised by Arendt & Medernach, bond-specific aspects by Allen & Overy.