Union Investment Real Estate Sells Fountains of Boynton Shopping Center in Florida Above Book Value

Union Investment Real Estate Real Estate has sold the Fountains of Boynton Shopping Center in Boynton Beach, Florida, the firm announced May 18, 2026. The sale price exceeded the property's most recent book value, though the parties agreed not to disclose the purchase price. The retail asset had been part of the UniImmo: Europa open-ended real estate fund portfolio since 2021.

Asset Details

The Fountains of Boynton Shopping Center is located in Boynton Beach, a centrally situated, high-traffic suburban municipality in northern Palm Beach County, approximately 30 miles south of West Palm Beach International Airport. Completed in 1994 and extensively modernized in 2017, the center comprises five buildings totaling approximately 175,500 square feet of leasable space.

The center is currently nearly fully leased and features a diverse tenant mix that includes a well-known grocery store, a nationwide fitness chain, restaurants, and a variety of service providers in the beauty, healthcare, and pet care sectors.

Portfolio Strategy and Fund Liquidity

According to Union Investment Real Estate, the disposition reduces the U.S. allocation within the UniImmo: Europa portfolio and enhances the fund's liquidity position.

Transaction Advisory

Union Investment Real Estate was advised on the transaction by CBRE's National Retail Partners Team in Florida. The buyer was not disclosed.

Broader Activity at Union Investment Real Estate

The Fountains of Boynton disposition is one of several recent transactions for Union Investment Real Estate across property types and geographies. In May 2026, the firm signed an eight-year office lease with Athena Club at 140 Broadway in New York City, where the U.S. personal care company is doubling its headquarters to approximately 1,100 square meters. Earlier in the month, Union Investment leased two logistics warehouses, including office space, to TOGE Dübel at the City Logistics Hub in Nuremberg, Germany. The firm also recently leased two floors of the office and retail building "The Precedent" in Brussels to Industrious.

Sources

Union Investment Real Estate — Press Release: Union Investment sells Fountains of Boynton Shopping Center in the U.S. (May 18, 2026)