Riviera officially sold

Fonciere Euris and its subsidiary Rallye, have signed a deal with Union Investment Real Estate to sell the Riviera shopping center located in Gdynia for a value of €291 million. "The transaction will be concluded for a value of €291 million, to be potentially increased to a maximum of €300 million over three years through earn-outs based on performance," Reuters informed earlier. Riviera was opened to the public in October 2013 and is comprised of 231 units over 70,470 sqm GLA of retail and entertainment space.