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Hamburg's Union pays Sonae, Euris E316m for majority of Berlin's Alexa
Hamburg-based Union Investment, the fund manager of the German cooperative banking network, is paying Lisbon-based Sonae Sierra and the French Foncière Euris/Rallye E316m to boost its stake in the Alexa shopping centre on Berlin's Alexanderplatz to 91% from 50%. The mall will be placed in its UniImmo: Deutschland open-ended fund. Broker Jones Lang LaSalle advised the buyer. (See upcoming PIE Editions for full story)