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Highlights
DWS Asset Management sold a Jewel Osco-anchored shopping center in Chicago's Wicker Park neighborhood to Houston-based Hines for $70 million.
The property, located at 1341 North Paulina Street, was originally purchased by DWS’ retail real estate investment trust, RREEF Property Trust, in 2015 for $94 million as part of a larger transaction.
This acquisition follows a series of retail investments by Hines over the past year, as investors continue to view grocery-anchored shopping centers as resilient assets in the current market.