GE Real Estate Central & Eastern Europe said it has bought the 24.8% stake it did not already own in the Polish retail joint venture Green Holdings for EUR 80 mln. GE is buying out its partner, fund manager Heitman, ahead of the imminent expiry of the Heitman Central European Property Partners fund 1. The two companies had set up the venture in 2003 to facilitate the acquisition of 12 Polish retail galleries from French retailer Group Casino.
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