Union Investment has finalised an agreement with Sonae Sierra and Foncière Euris/Rallye to become the new majority owner of the Alexa shopping centre in central Berlin. Each of the investors had a 50% share in the property and the Hamburg-based property fund manager paid EUR 316 mln to acquire a majority stake (91%) in the 180-unit shopping centre on Alexanderplatz. Sonae Sierra, which will continue to be responsible for centre management, intends to exclusively hold the remaining 9% in Alexa in the future.
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