Allianz Real Estate has acquired the remaining 45% of shopping centre Europa Passage in Hamburg from German bank HSH Nordbank for around €200m.
The deal makes Allianz the sole owner of Europa Passage, which was previously co-owned by HSH through Alida Grundstücksgesellschaft and life insurance company Allianz Lebensversicherungs-AG and as well as Allianz Real Estate Germany GmbH.
Europa Passage is situated alongside lake Binnenalster and has about 30,000 m² of floorspace containing more than 120 shops,cafes and restaurants and another 34,000 m² of office space. The mall is managed by Hamburg retail manager ECE.
