Signa Group and Centrum Group have partnered to buy two retail properties in Munich for about €250 million, PropertyEU reports. The consortium, consisting of Goldman Sachs’ Whitehall Funds, Deutsche Bank’s RREEF funds, Prelios, Generali and the Borletti Group, is selling the Karstadt Oberpollinger and Karstadt Sports shop.
The deal may close in the third quarter of 2011. Bank Bayerische Landesbank has offered to finance the Karstadt Sports shop deal, while a Eurohypo-led bank consortium is financing the Oberpollinger transaction.
Click here for the story from PropertyEU.