Deutsche Asset Management through its Iberian real estate investment business in Madrid is planning to add the Diagonal Mar shopping center in Barcelona to its Grundbesitz Europa open-ended real estate fund.The cost of the deal is estimated at €493m. The vendor of the property is the US real estate company Northwood Investors, which purchased the investment in 2013. The second largest shopping center in Barcelona, Diagonal Mar was completed in 2001 and offers 190 stores on 62,450 sqm. The property is 97 percent leased and is frequented by 17 million visitors per year.
