Rockcastle acquires Bonarka City Center in Krakow
Rockcastle Global Real Estate has acquired Bonarka City Center in Krakow, for €361 million. The fund has signed a preliminary agreement with Trios Dutch Holdings - the owner of the shopping centre controlled by TriGranit (TPG).
International real estate advisor Savills represented Rockcastle in the acquisition. “This transaction is setting the benchmark in the Polish market when it comes to pricing. We are proud to have generated such a good deal for both the purchaser and the seller and we congratulate Rockcastle in taking over one of the largest and best shopping centres in Poland. It is very likely to be the largest single property investment transaction in Poland this year,” commented Michał Ćwikliński, Managing Director and Head of Savills Investment Department.
This is not the first time for Savills has advised Rockcastle in a successful purchase since entering the Polish market. This transaction follows the previous acquisitions by this investor of Galeria Solaris shopping centre as well as Karolinka and Pogoria shopping centres. Also it is another success for Savills Investment Team who have already in 2016 advised in over €1.1 billion worth retail investment transactions.
Bonarka City Center comprises of ca. 91,000 sqm and was opened in November 2009. The shopping centre consist of 270 units, including anchors tenants such as Leroy Merlin, Cinema City and more than 30 restaurants. The facility provides 3,200 free parking spaces.