P+P advises Union Investment Real Estate GmbH with regard to tax matters in the sale of Äppelallee Center Wiesbaden

February 2016

After a five-year holding period, Union Investment Real Estate GmbH (Hamburg) sold the Wiesbaden retail center Äppelallee Center, which is part of its open-ended real estate fund "UniImmo: Germany". Immobilien Service-KVG IntReal, which is responsible for the administration of the open-ended retail fund Pradera, an open special AIF, acquired the premises.

The stipulated purchase price amounts to approximately EUR 82 million. The center offers leasable space of around 25.945 m2 with approximately 30 shops, among them the key tenants real and Media Markt. The occupancy rate is almost 100 percent.

P+P advised Union Investment on all tax-related matters with the following team:

The other advisors involved include JLL and Happ Luther, who advised the seller and Grüneberg Property, and Frantzen Steinhardt Wehle as the buyer's advising law firm