Deutsche Asset Management has completed the purchase of a 91-percent stake in one of Germany’s top shopping centers, Loop5, located in Frankfurt, from Foncière Euris, Rallye and their investment partner Sonae Sierra. Sonae Sierra said they will keep their remaining share of 9 percent in the project. Foncière Euris and Rally netted €14m and €19m in equity from the deal. Additional earn-outs based on the performance of the shopping center could be realized by 2020, the companies wrote in a statement. Located in the retail park of Weiterstadt, in the south of the Frankfurt agglomeration, the 56,500 sqm Loop5 opened six years ago. The sellers were advised by JLL, Berwin Leighton Paisner and Hogan Lovells.
