Hamburg-based Union Investment has bought the Bethanien-Center mall in the northern German town of Neubrandenburg for an undisclosed sum. The vendor is Captiva Capital Partners III fund, which is managed by French investment manager Natixis Capital Partners.
Hamburg-based Union Investment has bought the Bethanien-Center mall in the northern German town of Neubrandenburg for an undisclosed sum. The vendor is Captiva Capital Partners III fund, which is managed by French investment manager Natixis Capital Partners.
In a statement on Tuesday, Hamburg-based Union Investment said the shopping centre is being acquired for UniInstitutional European Real Estate, a mutual fund for institutional investors.
Opened in 1994, Bethanien-Center is a dominant retail centre in the region, with a catchment area of some 290,000 inhabitants. The scheme consists of 46,850 m2 of retail space on one floor as well as 1,550 parking spaces.
Following the purchase, Union owns a total of 30 shopping centres in Europe with a value of some EUR 5 bn.
Cushman & Wakefield / RREIT acted for Natixis. Union Investment was not represented.
