Hamburg-based Union Investment Real Estate has sold a portfolio of property in Chile for €171m to the Chilean property firm Aurus Renta Immobiliaria.
The portfolio contains five properties in the Chilean capital Santiago comprising a total lettable space of 55,725 m2.
UIRE originally acquired the properties for the UniImmo fund between 2006 and 2008 for €33m.
“It’s not only this successful sale that makes Chile a resounding success story for the fund. The portfolio generated stable rental income for the fund throughout the holding period,” said Volker Noack, Union Investment Real Estate management board member.
