URW to sell German shopping center for €116m
Transactions - APRIL 4, 2022

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URW to sell German shopping center for €116m

by Andrea Zander

Unibail-Rodamco-Westfield (URW) has entered an agreement with an institutional investor for the sale of Gera Arcaden, in Germany, for an agreed total of €116 million ($127 million).

Located in Gera, Germany, the shopping center comprises 38,300 square meters (412,258 square feet), and offers visitors a large choice of retailers and local and international dining options, from German to Asian to Italian cuisines.

Additionally, URW has entered into a management contract and will continue the asset and property management of the center through its German third-party, asset-management business.

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