Hamburg’s Union Investment has sold shopping mall Luisencenter to LaSalle Investment Management for approximately €104m.
The centre is in Darmstadt and was part of Union’s open-ended real estate fond UniImmo Europa. Union Investment acquired Luisencenter in 2003 from retail property manager Hammerson.
The Luisencenter was established in 1977 and was refurbished in 2002 and 2003. It contains letting space of 18,962 m², housing about 60 shops under management of German retail real estate manager ECE. Among the tenants are H&M, New Yorker and REWE.
Union Investment was advised by JLL and Latham&Watkins while LaSalle worked with GSK Stockmann.
