Quilvest Real Estate has acquired RheinBerg Passage in Cologne. The seller is MEAG, the asset manager of Munich Re and ERGO. The purchase price of the shopping center, which was acquired in partnership with Greenman Investments, was approximately €30m. RheinBerg Passage offers 9,500 sqm of retail space and will be refurbished. “The new concept for the RheinBerg Passage scheme focuses primarily on food retailing. From our point of view, this would match the growing demand for a wider variety of groceries in shopping centers,” said John Wilkinson, CEO of Greenman Investments.
