Second largest transaction closed on the Polish investment market
Deutsche Asset & Wealth Management has acquired Stary Browar in Poznan, one of the premier shopping centres in Central Europe. In addition the scheme serves as the cultural heart of the city with numerous business functions, art exhibitions, gastronomy and nightlife offerings.
The CBRE Capital Markets Team advised the buyer on the purchase from Fortis, owned by Grażyna Kulczyk, who was the investor and owner of the property. Total volume of this transaction was around €290 million.
Sean Doyle, Director, Capital Markets, CBRE Poland, commented: “The Polish investment market is increasingly attracting capital from across the globe targeting all sectors. Core funds are particularly focused on Prime retail located in large cities. However, the key challenge at present in Poland is the lack of prime stock available to purchase. However, the purchase of the highly coveted Stary Browar, one of the best retail concepts in Europe which has received numerous accolades over the years, demonstrates that there are still opportunities to secure the best assets in Poland. It was a pleasure to work with all parties on this landmark transaction which resulted in one of the most efficient processes we have been involved in."