Rockcastle acquires Galeria Warmińska in Olsztyn – EuropaProperty

Rockcastle Global Real Estate has finalised the acquisition of Galeria Warmińska shopping centre in Olsztyn, for the price of €150 million, from Galeria Warmińska sp z o.o that developed and managed the scheme from its opening in September 2014.

“Galeria Warmińska in Olsztyn is Rockcastle’s first acquisition in north-eastern Poland. Thanks to its dominant position in Warmińsko-Mazurskie region and continuously growing footfall and tenants’ turnovers, the property’s income growth is expected to significantly exceed market benchmarks,” commented Spiro Noussis, the CEO of Rockcastle.

Galeria Warmińska is a 3rd generation fully let shopping and entertainment centre with total GLA of 42,711 sqm. Diversified tenants mix comprises 150 retailers, such as Piotr i Paweł supermarket, RTV Euro AGD, TK MAXX, Zara, H&M, Reserved, Smyk, New Yorker, Martes Sport, CCC, Carry, Bershka, Intersport, Pull&Bear, Rossmann, Hebe, Multikino and Kinetic, among many others. The shopping centre enjoys excellent visibility and accessibility and offers 1,200 parking spaces for its clients.

Rockcastle was advised in the acquisition process by Hogan Lovells, Savills, Arcadis and PWC, whereas Greenberg Traurig LLP, JLL and KPMG provided advisory services to the seller.

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Rockcastle acquires Galeria Warmińska in Olsztyn – EuropaProperty

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