Union Investment Institutional Property GmbH entered into a binding sale and purchase agreement to acquire 11 retail assets in Germany from Brack Capital Properties NV (TASE:BCNV) on July 1, 2019. The assets are located in Bad Aibling, Vilshofen, Dreieich, Kassel, Laatzen, Leverkusen, Dusseldorf, Koln, Bad Segeberg, Emden and Witten. The closing is subject to customary closing conditions. The proceeds will be used to repay €73 million of bank debt to further strengthen the balance sheet. Kempen acted as sole financial advisor to Brack Capital Properties NV (TASE:BCNV). Union Investment Institutional Property GmbH cancelled the acquisition of 11 retail assets in Germany from Brack Capital Properties NV (TASE:BCNV) on July 1, 2020.