Union Investment Real Estate has acquired the former Karstadt shopping center from SIGNA located in the center of the city on Königstraße. The asset is the latest addition to the portfolio of the open-ended property fund UniImmo: Europe. SIGNA will continue as the developer, with construction expected to complete at the end of 2017. The building is undergoin extensive refurbishment and modernizing work, and will offer around 21,700 sqm of GLA. The largest sales unit of 8,110 sqm will be occupied by the fashion retailer Primark.
