Union poised to buy EUR 170m mall in Saarbrücken

Union Investment is reportedly set to acquire the Europa-Galerie shopping centre in Saarbrücken, Germany from fund manager Credit Suisse.

According to a notice on the website of the Federal Antitrust Authority, Credit Suisse's frozen open-ended fund CS Euroreal is selling the EUR 170 mln retail asset located in the capital of the German state of Saarland.

Contacted by PropertyEU, Hamburg-based Union declined to comment on the rumours. Credit Suisse was not directly available for comment.

Opened in October 2010, Europa-Galerie Saarbrücken provides 25,000 m² over 110 specialist stores, cafés, restaurants and service outlets. The scheme was developed by inner-city retail specialist ECE and sold to Credit Suisse in 2010 for some EUR 170 mln.

Click on the link below to read: Credit Suisse to re-open CS Euroreal fund on 21 May