Union Investment has acquired the StadtCenter Düren shopping centre with 54 retailers and food outlets across 17,800 sqm of rental space. The vendor of the property is a property fund managed by CBRE Global Investors. The purchase price is approximately €70m. Completed in 2004, the shopping centre will join the portfolio of open-ended real estate fund Unilmmo: Deutschland. Among the biggest tenants in the shopping centre are Saturn with 3,800 sqm, H&M with 2,200 sqm and other brands such as Deichmann, dm and New Yorker. The property consultant CBRE advised the seller, Savills advised the buyer on the transaction. Legal and tax advice was provided by BLP, Clifford Chance and Deloitte.
