Norton Rose Fulbright advises retail property owner and operator Unibail-Rodamco-Westfield on sale of Gera Arcaden to redos

Global law firm Norton Rose Fulbright has advised retail property owner and operator Unibail-Rodamco-Westfield Germany GmbH on the sale of the shopping center "Gera Arcaden" in Gera, Thuringia.

The "Gera Arcaden" opened in 1998 and have around 38,300 square meters of leasable space, of which around 7,500 square meters is office space. The remaining space is divided among 90 stores from the retail, gastronomy and leisure sectors.

Unibail-Rodamco-Westfield is a developer and operator of flagship destinations with a portfolio worth 54.5 billion euros, 86 percent of which is in retail properties. The group owns and operates 85 shopping centers. The German headquarters of Unibail-Rodamco-Westfield is located in Düsseldorf.

Hamburg-based redos institutional GmbH, a specialized asset, fund and investment manager, acquired the shopping center.

The Norton Rose Fulbright team that advised Unibail-Rodamco-Westfield on the sale was led by Hamburg partner Dr. Stefan Feuerriegel and also included counsel Sven-Christoph Riepke (real estate, corporate M&A, Hamburg) and Dr. Martin Hoffmann (real estate, Hamburg) as well as associate Phil Jung Kim (real estate, corporate M&A, Hamburg).