Union Investment Real Estate is buying the Das ES! shopping centre in Esslingen, southern Germany.
The 248,786 sq ft centre is owned by a fund managed by Rockspring Property Investment Managers.
The centre will become part of the Hamburg-based real estate investment manager’s £6bn shopping centre portfolio.
Stuart Reid, Rockspring partner and manager of its Berlin office, said: “Since acquiring the centre in 2011 we have successfully completed a number of management measures and signed several new leases. We are very pleased with the property’s performance.”
JLL advised Union Investment on the deal; CBRE advised Rockspring.
