In its issue 05/2019, the real estate newspaper Immobilien Zeitung reports on the refurbishment of the Rhein-Ruhr Zentrum. The owners – the joint venture between the North Haven Real Estate Fund IX Global managed by Morgan Stanley Real Estate Investing (MSREI) and the redos Group – intend to invest up to € 200 million. For the first time in the history of the site, the centre as well as the Karstadt Arkaden and the adjoining office Tower all have the same owner. As a result, the Rhein-Ruhr Zentrum can now be refurbished holistically. As part of the modernisation, new customer groups are to be tapped while maintaining the strengths of the centre. “The strengths of the Rhein-Ruhr-Zentrum include its comparatively prosperous catchment area in the southern Ruhr area, the direct motorway access, its own underground station and the 5,000 free parking spaces,” says Christine Hager, Managing Director / Head of Shopping Center Asset Management at redos.
In order to read what redos and the project developer HLG are planning at the location, click here.