Union Investment Real Estate acquires Riviera shopping center

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