ERWE Immobilien AG is taking over Kupferpassage in Coesfeld near Münster. The specialist in developing downtown commercial space in small and medium-sized German cities has thus acquired an ideally located and almost fully let property in the city to the north of the Ruhr region. The property, which is put to mixed use, has more than 10,000 m ^ 2 of usable space and 160 car parking spaces. The budgeted total investment amounts to around EUR 20 million. Built in 1985, the building is in a very good condition and let on a long-term basis to chains including H & M, Thalia and dm-drogerie markt. ERWE expects to generate a positive cash flow from managing the property.