Generali Real Estate Joins Forces with ECE Real Estate Partners to Acquire PEP Shopping Centre in Munich

April 2023

Latest portfolio addition

The portfolio of Generali Real Estate in Germany continues to grow. Within the framework of a 50/50 joint venture, General Real Estate and ECE Real Estate Partners acquired one of Germany’s top 5 shopping destinations. The PEP mall is located in the heart of Neuperlach, a vibrant district of Munich, and attracts around 12 million visitors annually from the entire south-east section of the greater Munich area, not least because of its highly convenient public transportation access. An attractive tenant mix, which includes brands like Primark, Edeka, Kaufland, Müller Drogerie, H&M and Saturn, generates a high footfall and sales revenues of over 250 million euros per year. Between 2026 and 2018, the centre was extensively modernised and expanded to about 70,000 sqm of GLA. The PEP centre has been managed by ECE Marketplaces for more than 30 years.