The total value of investment transactions closed in the retail property market in Poland last year amounts to more than €1.93 billion, according to the latest report by JLL. Several large deals that were agreed on in 2017 are set to be finalized in Q1 2018, the study said.
One of such transactions – the sale by funds managed by Ares, AXA and Apollo Rida of a portfolio of 28 retail assets to Chariot Top Group for approximately €1 billion – took place at the beginning of January, noted Agata Sekuła, the head of retail investment in CEE at JLL.
The biggest 2017 transactions included the sale by Blackstone of the Magnolia Park mall in Wrocław to Union Investment for about €380 million. According to JLL, prime shopping center and retail park yields in Poland currently stand at 4.9% and around 7% respectively.