Union InvestmentReal Estate is expanding its retail portfolio in France, PropertyEU reports. The Hamburg-based investment manager has bought a 80% stake in the OPCI vehicle, which owns the Géant shopping centre in Bordeaux, for about €63 million.
Developer Mercialys will retain a 20% stake in the property and also manage the shopping centre. The OPCI will be managed by Union Investment Real Estate.
Click here for the story from PropertyEU.
Click here for additional coverage from Property Magazine International.