Highstreet Sells 3 German Dept. Stores For $68.5M

Law360, New York (October 18, 2011, 5:23 PM EDT) -- Highstreet, a German property developer and owner of several Karstadt Warenhaus GmbH department store locations, has closed a €50 million ($68.5 million) deal for three of its shopping centers with German realtor ECE Projektmanagement GmbH & Co.

The deal, which took place in July but was announced Tuesday in the U.S., is the latest in a series of sales for Highstreet, which recently divested itself of 26 other assets, bringing the year's total to €605.5 million.

“The operation has had a positive impact in terms of...
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