Deutsche EuroShop has bought a 50 percent stake in the Allee-Center in Magdeburg for about €118 million, Property Magazine International reports. The property was previously held by Unibail-Rodamco.

The transaction is subject to approval by the German antitrust authorities. Jones Lang LaSalle served as intermediary in this deal. The funding of the acquisition price is done by utilizing a credit line. Deutsche EuroShop’s portfolio now consists of 19 shopping centers with a market value of €3.6 billion.

Click here for the story from Property Magazine International.

Click here for additional coverage from RTT News.