Deals

Resolution takes Euro fund to 40% invested

The London-based pan European firm has acquired a stake in the Waterfront shopping centre in Bremen, Germany, taking latest fund, Resolution Real Estate Fund III, to 40% invested. The vehicle corralled €808m of equity commitments and closed in December 2007.

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Resolution Property has made its third investment this year in mainland Europe for its latest opportunity vehicle, Resolution Real Estate Fund III.

The London-based pan European firm has acquired a 50 percent stake in the Waterfront shopping centre in Bremen, Germany, as part of a €130 million joint venture with Ireland’s LNC Property Group, making the fund 40 percent invested. Resolution Real Estate Fund III closed on €808 million in December 2007. 

The Waterfront development is a covered shopping and leisure centre within Bremen’s harbour district developed by LNC and opened in September 2008. According to a statement, the project has around 10 percent of space left to lease.

Earlier this year, the fund acquired the McArthurGlen Troyes outlet centre in France for €85.5 million and Galeria Pomorska in Bydgoszcz, Poland for €50.75 million. 
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