Metropol Group acquires five shopping centres in Poland

Greenberg Traurig advised Metropol Group on the acquisition of a shopping centre portfolio, consisting of five regional convenience stores is located in Gdynia, Olkusz, Radom, Świętochłowice and Siemianowice from the subsidiaries of Atrium group. Advice on the transaction included negotiation of transaction and financing documentation as well as tax advisory.

“In the real estate market, there are always opportunities. These days, when the market suffers from the COVID consequences, we found the segment of convenience centres located in the heart of small cities very attractive. We are currently looking for other projects to develop the portfolio,” said Amit Mor, Metropol Group CEO.

“The shopping portfolio acquisition closed by our real estate team was probably the first retail transaction in challenging market conditions, following the removal of restrictions on the economy resulting from the coronavirus lockdown, which shows investors’ growing interest in transactions of this type. The popularity of convenience shopping centres is also related to the changing preferences of consumers, who tend to choose convenience shopping centres located closer to their homes,” said Dominik Rafałko, Local Partner in the Greenberg Traurig real estate team.

The Atrium shopping centre portfolio acquired by Metropol Group has a total leasable area of over 45,000 sqm GLA and includes the following properties: Atrium Gdynia, Atrium Olkusz, Atrium Gama, Atrium Świętochłowice and Atrium Siemianowice.