EPP Invests $818M in Polish Shopping Center Portfolio
ByEcho Polska Properties has acquired 12 major shopping centers and retail parks in Poland, in three tranches, in the course of three years. The purchase, from a consortium with 25 percent owned by Redefine Properties, totals €692 million or around $818 million. This acquisition is part of a larger 28-property portfolio that was taken over by the consortium.
The M1 portfolio encompasses 12 retail assets totaling 4.8 million square feet across 620 stores. Eight of those regional shopping centers range from 322,000 to 592,000 square feet, attracting more than 40 million annual visitors, whereas the four retail power parks range from 215,000 to 376,000 square feet. The properties are all single level, fully-leased and grocery-anchored. All centers are anchored by Auchan Hypermarkets as well as other major brands including MediaMarkt, TK Maxx, H&M and C&A…
