Focus Estate Fund acquired Galeria Sandomierz retail centre in Southeastern Poland from Euro Real Estate Investments LLP. The buyer was represented by Cushman & Wakefield and JLL acted on behalf of the seller.
Galeria Sandomierz is the only modern retail centre in the city and its surroundings. Operating since March 2009, it offers 4,400 sqm of retail space and 160 parking spaces. The scheme boasts a 97.5 percent level of occupancy, anchored by Carrefour (supermarket) and RTV Euro AGD (electronics), with tenants including many popular fashion brands.
“This is our first investment transaction related to a retail property in Poland. In our activities we are focusing on non-prime retail real estate in Central and Eastern Europe and we are about to close several other deals in Poland and Czech Republic,” said Andriy Kozin, Managing Partner at Focus Estate Fund. Cushman & Wakefield represented Focus Estate Fund.
The seller, Euro Real Estate Investments LLP, a real estate vehicle managed by Marcol, a UK private equity business, was represented by JLL.
“The demand for shopping facilities located in regional towns with dominant position in its catchment is very strong. The transaction of Focus Estate Fund is a great example of new capital’s growing interest in such investment opportunities in Poland,” added Jędrzej Suchowolec, Surveyor in Retail Capital Markets at Cushman & Wakefield.