ECE Real Estate Partners and Rockspring Property Investment Managers is selling the Olympia shopping center in Brno to Deutsche EuroShop for €374m. The transactions is expected to close by the end of March. The open-market offer attracted bids from a range of international investors, according to ECE. Rockspring, acting on behalf of a separate account mandate, and ECE Real Estate Partners, acting on behalf of the ECE European Prime Shopping Centre Fund, acquired the asset in 2011 in a 50-50 joint venture. ECE Projektmanagement will retain management of Olympia for Deutsche EuroShop. The 85,000 sqm center with 200 units is the largest regional shopping center in the Czech Republic. ECE and Rockspring modernized the center and signed 170 new leases, including with Peek & Cloppenburg and Reserved, over the past five years.
