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PATRIZIA sells Dusseldorf, Germany, project to Brack Capital Properties

PATRIZIA Immobilien AG sold the 200,000-square-meter Glasmacherviertel project in Dusseldorf, Germany, to Brack Capital Properties NV for an undisclosed sum.

Future plans on the site of the former glassworks in the Gerresheim district include the construction of approximately 1,500 apartments, according to a release.

BNP Paribas Real Estate was PATRIZIA's adviser on the deal, with Sonntag & Partner advising the company on legal matters.

In October 2013, PATRIZIA pegged the Glasmacherviertel Düsseldorf project volume at €210 million.