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ING Real Estate acquires 12,000-square metre retail park in Austria – UPDATE

ING Real Estate acquires 12,000-square metre retail park in Austria – UPDATE

(Updating with acquisition price)

AMSTERDAM (Thomson Financial) – ING Real Estate has acquired a 12,000-square meter shopping centre in Austria, the company said.

A company spokesperson confirmed this afternoon that ING paid 25.5 mln eur for the property.

Shopping Centre 17 in Brunn am Gebirge, Austria, will form part of the ING Real Estate Property Fund Central and Eastern Europe, which the company launched last year.

The retail park, which opened in 1996, is currently being leased to 14 tenants.

ING said the property is ‘located in a very popular retail area comprising 325,000 square metres of retail space.’

The area is home to Shopping City Sud, one of the largest shopping centres in Europe.

Dave van Ginhoven, +31-6-14496797, dave.vanginhoven@thomson.com

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