Union Investment sells German retail asset to Patrizia

German fund manager Union Investment has sold the Chinon Center retail asset in Hofheim am Taunus, in the German state of Hesse, to Patrizia for an undisclosed amount.

The 14,800 m2 shopping centre was completed in 2010, and includes a car park with 455 spaces
across three levels. Major tenants include food retailers Edeka and Lidl, health and beauty chain Müller, Woolworths, and fashion retailers H&M and Deichmann.

The vehicle has been held by the Unilmmo: Europa open-ended real estate fund since it was acquired in 2011.

Savills advised Union Investment on the transaction.


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