The dominant regional centre is 44,364 sqm and is located in the city of Slupsk in northern Poland. It contains a strong tenant mix including Intermarche, H&M, New Yorker, Decathlon, several Inditex and LPP brands, a six-screen cinema Multikino multiplex and a food court with a wide range of restaurants.
Jeroen de Grunt, Portfolio Director, Separate Accounts EMEA, CBRE Global Investors said: “We acquired this well-performing centre as the first direct acquisition for this client in Poland. Poland provides an attractive pricing/risk premium in comparison to shopping centres in Western Europe, and fits with our client’s strategy to acquire dominant regional shopping centres with limited competition.”
Martin Sabelko, Managing Director CEE, CBRE Global Investors said: “Retail investments in Polish second-tier cities are offering prime investment opportunities and are in line with our strategy. Our long-standing team continues to be active on the ground looking to source additional investments for our clients."
CBRE Global Investors was advised by Linklaters, Savills and CBRE Building Consultancy. Tristan Capital Partners was advised Cushman & Wakefield and Dentons.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.0 billion in assets under management* as of December 31, 2015. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 70,000 employees in more than 400 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of investments in real estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
Past performance is not a guarantee of future performance.