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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.