A joint venture of the Canada Pension Plan Investment Board (CPPIB) and LaSalle Investment Management has acquired a regional shopping centre in the city of Hürth, Germany for EUR 157.3 mln. The centre, known as Hürth Park, previously belonged to the open-ended property fund Degi Europe, which is managed by Aberdeen Immobilien Kapitalanlagegesellschaft, and is now in liquidation. Under the deal, CPPIB now owns 80% of the centre, while a value-add fund managed LaSalle fund holds 20%.
Premium subscriber content – please log in to read more or take a free trial.
