Dentons’ Real Estate team has advised BlackRock’s Real Estate division on the preliminary sale of two shopping centres in Southern Poland, Karolinka in Opole and Pogoria in Dabrowa Gornicza, to RockCastle Global Real Estate.
Karolinka is the dominant mall in the region and at the same time is one of the 10 largest shopping centres in Poland with more than 120 shops located on a total lettable area of 70,000 sqm Pogoria was the first retail and shopping centre in Dabrowa Gornicza. With a total lettable area of 36,000 sqm, it houses nearly 75 retail units and a cinema. Both shopping centres are let to well-known high-street brands. They were developed in 2008 by Mayland Real Estate and BlackRock acquired them in 2009.
The Dentons team was led by Pawel Debowski, Chairman of the European Real Estate Group. Senior Associate Maciej Jodkowski ran the project from the transactional side and was supported by Associate, Jacek Jezierski.
“We are pleased to have assisted BlackRock Real Estate on the sale of Karolinka and Pogoria, which are prime retail centres in Southern Poland. Our team advised on the acquisition of both assets six years ago and since then we have been involved in some leasing and operational matters. We were thrilled that BlackRock Real Estate selected us as legal counsel for this successful exit,” said Pawel Debowski.
BlackRock is a provider of global investment management services. In April 2014, Dentons represented BlackRock Real Estate on the sale of Rondo 1, a landmark office tower in Warsaw, which was the largest transaction on the Polish market last year.