ECE has introduced its second European Prime Shopping Centre Fund with the acquisition of the German Stern-Center retail project. The value of the transaction was not disclosed, but the fund has raised €740m from investment funds, pension funds and insurance companies from Europe, Asia and the US. Set to close in 2018, European Prime Shopping Centre Fund II will continue the strategy of EPSCF I, targeting retail projects with growth potential. EPSCF I was behind one of the biggest transactions on the Polish retail market last year: the acquisition of the 58,000 sqm Poznań City Center, developed in 2013 by TriGranit on land owned by the Polish State Railways (PKP). Europa Capital was an investor in the project.
