Union Investment is taking over the Riviera shopping mall in Gdynia from Foncière Euris and Rallye for €291m. The companies have already signed a preliminary agreement that’s expected to close at the end of August. The final deal could reach €300m over three years through earn-outs. The deal represents a capitalization rate of stabilized NOI of 5.40 percent.
Developed by Mayland Real Estate, the Riviera shopping mall is the biggest retail project in the Tricity area, offering 70,400 sqm of space in 231 retail units. Auchan is anchoring the BREEAM-certified project.
