PARIS (dpa-AFX) - Unibail-Rodamco-Westfield said it has reached an agreement with an institutional investor for the sale of Gera Arcaden, in Germany, for 116 million euros.
The transaction is expected to complete in the second quarter of 2022.
Gera Arcaden is an 38,300 sqm shopping centre, including offices, located in the city centre of Gera.
Unibail-Rodamco-Westfield also said it entered into a management contract and will continue the asset and property management of the centre through its German third-party asset management business.
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