Bloomberg News

SEB ImmoInvest Sells Italian Mall to ECE Project Management

December 06, 2011

Dec. 6 (Bloomberg) -- SEB ImmoInvest, a Frankfurt-based fund, sold a shopping mall in central Italy to ECE Project Management, adviser Cushman & Wakefield Inc. said without disclosing a price.

The Megalo mall in Chieti opened in 2005 and hosts clothing retailers such as Zara and Hennes & Mauritz AB, said Cushman, which advised SEB ImmoInvest. The property has more than 48,500 square meters (522,000 square feet) of gross rentable area over two levels and 2,800 parking spaces, according to the statement.

--Editors: Ross Larsen, Jeff St.Onge.

To contact the reporter on this story: Sharon Smyth in Madrid at ssmyth2@bloomberg.net

To contact the editor responsible for this story: Ross Larsen at rlarsen2@bloomberg.net


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