The German fund manager Union Investment has acquired a retail park in Madrid and a commercial building in Brussels through its UII EuropeanM fund. The price of the transaction, which involved the fund’s first acquisition of commercial assets, was not disclosed.
Specifically, the German firm acquired the 10,580-square-meter On Plaza retail park, in the municipality of Torrejón de Ardoz (Madrid), from a private investor. The centre, which has 312 parking spaces, was built in 2019.
