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HANOVER, GERMANY—Union Investment Real Estate GmbH has acquired the Kröpcke Centre retail property, located in the heart of Hanover’s city center, for its open-ended real estate fund Unilmmo: Deutschland. Union Investment purchased the property from a consortium comprising a project company of Centrum Group D sseldorf and First Kröpcke GmbH. The parties agreed not to disclose details of the purchase price. Built in 1972, the Kröpcke Centre has been extensively modified and rebuilt by Centrum. Completion is scheduled for early 2014.

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