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Union Investment: Dublin acquisition and Italian presence

Union Investment recently announced the acquisition, for EUR 200 million, of the residential district (currently under construction) located in Dublin, to be acquired from the developer Ballymore.

The portfolio held by Union Investment consists of 403 different asset-class properties. The company has a strong footprint also in the hospitality segment, with 66 owned hotels mainly located in Germany and Northern Europe. In Italy Union Investment holds, through various funds, 4 shopping centers (Rome, Rimini, La Spezia and Pavia) for 81 thousand square meters of total commercial space and a total value of EUR 460 million.

As far as we know, Union Investment does not currently own any hotel on Italian soil. However, in 2019, Union Investment owned the 114-key B&B Hotel Milano Monza, managed in lease by the B&B chain.