UK REIT Hammerson confirmed on Wednesday that is has completed the sale of a 75% interest in Espace Saint Quentin shopping centre near Paris to Allianz Real Estate.
UK REIT Hammerson confirmed on Wednesday that is has completed the sale of a 75% interest in Espace Saint Quentin shopping centre near Paris to Allianz Real Estate.
The parties exchanged conditional contracts on establishing a 75:25 joint venture in June this year. Hammerson said at the time that it would receive EUR 173 mln. A further EUR 3 mln payment is contingent upon the exercise of a purchase option by Allianz in respect of one unit in 2012.
The UK REIT will continue to manage the asset.
