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Global law firm Dentons advised Nuveen Real Estate as borrower on the refinancing of Berlin shopping center Gropius Passagen. The lender, Allianz Real Estate, is granting a seven-year loan of €230 million to refinance the shopping center.
Nuveen Real Estate manages 80% of the Gropius Passagen property through a joint venture with Unibail Rodamco Westfield. Nuveen is one of the world's largest real estate investment managers with approximately €107 billion in assets under management.
Gropius Passagen is one of the largest shopping centers in Berlin. A five-year refurbishment program, due to be completed in 2020, will completely modernize the center with a mix of national and international top brands, a newly created food court and a multiplex cinema....
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