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.


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.