Unibail-Rodamco-Westfield is selling the Gera Arcaden shopping mall in Germany for €116m (£98m).
URW holds 51% of the 412,000 sq ft shopping centre, equating to just under €60m. The sale, to an institutional investor, represents a premium to the last appraised value and is expected to complete in Q2.
URW has entered into a management contract as part of the deal, and will continue the asset and property management of the centre through its German third-party asset management business.
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