Deutsche Asset Management buying Barcelona shopping mall

Madrid

DEUTSCHE Bank AG's Spanish asset-management unit is buying a shopping mall in Barcelona for 493 million euros (S$736.6 million) from Northwood Investors LLC.

The Diagonal Mar mall has shops operated by companies including Primark Stores Ltd and Hennes & Mauritz AB and comprises 90,000 square metres (969,000 square feet) of leasable space, Deutsche Asset Management said in a statement on Monday. The mall was built in 2001 and has about 17 million visitors a year.