STUTTGART, GERMANY-The development of Stuttgart's Milaneo quarter has reached a significant milestone. Hamburg Trust will acquire about 78% of the retail center's property company as well as the underground parking lot from the developers STRABAG RE and ECE. ECE/the Otto family will retain about 22% of the shares.
The investment volume for the center with underground car park is about EUR 400 million. The Milaneo quarter will comprise nearly 415 apartments, a 160-room hotel and 200 shops. For the full story, go to Europe Real Estate .
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