Shopping center owner, operator and re-developer Atrium Group, whose flagship Polish assets include the recently extended Atrium Promenada mall in Warsaw, has finalized its acquisition of the Wars Sawa Junior retail center in the downtown of the Polish capital from PFCEE, a fund managed by CBRE Global Investors.
The transaction was announced in August this year and is valued at €301.5 million. Originally Warsaw’s first department store, Wars Sawa Junior was built in the early 1970s and has since then gone through a number of modernization, remodeling and extension processes. It offers 26,000 sqm of retail GLA.
“As one of the most popular and well established retail centers in Poland, with an annual footfall of over 60 million in and around the asset, Wars Sawa Junior is a fantastic addition to our portfolio. This asset complements our three other assets in the Polish capital,” commented Atrium Group CEO Liad Barzilai.