By Inti Landauro

PARIS-- Franco-Dutch real-estate company Unibail-Rodamco (UL.AE) said Sunday it has agreed to sell its stake in a mall in Nice on the French Riviera to German insurer Allianz AG for 312.5 million euros ($391 million).

The mall, called Nicetoile, attracted 13 million visitors last year.

Hammerson (HMSO.LN) will manage the mall and will invest 10% in the project with Allianz.

Unibail-Rodamco expects to conclude the sale in the first quarter of 2015 once it secures all regulation approvals.

The sale is part of a broader Unibail-Rodamco plan to sell assets in France that was carried out in nine months instead of five years, the company said.

-Write to Inti Landauro at inti.landauro@wsj.com

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