FOCUS ESTATE FUND ACQUIRES GALERIA SANDOMIERZ
Focus Estate Fund acquired Galeria Sandomierz retail centre in south-eastern 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 sq m of retail space and 160 parking spaces. The scheme boasts a 97.5% level of occupancy, anchored by Carrefour (supermarket) and RTV Euro AGD (electronics), with tenants including popular fashion brands like Reserved, House, Cropp Town, Diverse, Top Secret and CCC, as well as Natura (health & beauty). The retail offer is complemented by a Bricomarche DIY store, which further increases the centre’s appeal factor. Galeria Sandomierz is conveniently located and easily accessible by customers from the city and region. Sandomierz city is an established tourist destination.
“This is our first investment transaction related to the retail property in Poland and we were very glad that our side was represented by the highly professional teams of Cushman & Wakefield, Czabański & Gałuszyński, and CSWP. In our activities we are focusing on non-prime retail real estate in Central and Eastern Europe. Galeria Sandomierz is a high-grade asset in our portfolio. The Fund has rather ambitious agenda. 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.