July 07, 2017

JLL advises on the sale of four shopping centres in Poland

JLL advises on the sale of four shopping centres in Poland

Blackstone has sold four shopping centres in Poland. The sale encompasses Galeria Twierdza Shopping Centre in Kłodzko (23,000 sqm) as well as the adjacent plot with a Broaster Chicken Drive restaurant. The other three malls are Galeria Twierdza Shopping Centre in Zamość (23,800 sqm), Galeria Tęcza Shopping Centre in Kalisz (16,000 sqm) and Wzorcownia Shopping Centre in Włocławek (25,600 sqm). The established centres boast a diverse and attractive tenant mix with anchor tenants across the four assets including such retailers as LPP Group, H&M, Rossmann, CCC, Media Markt, Carrefour and Multikino and have been operational since 2009 (Wzorcownia and Twierdza Kłodzko) and 2011 (Twierdza Zamość and Galeria Tęcza), respectively.

Wzorcownia in Włocławek, Galeria Twierdza Kłodzko and Galeria Twierdza Zamość were acquired by Echo Polska Properties (EPP) for EUR 141.6 million with Galeria Tęcza in Kalisz sold to undisclosed investor.

The four shopping centres have been managed by Multi Poland since 2014. Multi Poland is part of Multi Corporation, a leading owner, manager and developer of shopping centres in Europe and Turkey.

JLL and Greenberg Traurig were acting as commercial and legal advisors of the Seller with Colliers International and Linklaters acting as commercial and legal advisor for the Purchasing parties.

“This transaction further reflects ongoing investor activity on the retail markets outside major metropolitan areas,” said Adam Kiernicki, Associate Director, Retail Investment, JLL.“Popular among both clients and tenants, well-positioned retail schemes attract investors who are looking for portfolio diversification.”

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