EPP acquired the King Cross Marcelin shopping center in Poznań for €91.1 million, the company announced.
“For a long time, we have been closely watching the Poznań market, which stands out from other cities as one of the strongest local consumer markets. Compared to other European countries, Poland is invariably impressive with its economic growth, and Poznań is impressive even in such a prosperous environment,” said Hadley Dean, EPP president.
“Although there are already a few modern shopping centers in Poznan, none of them is equal to King Cross Marcelin in terms of the strength of the project, which still has great development potential, and the commissioning of the Business Garden Poznań office complex should increase the number of visitors to the center by 10 times. This data, combined with the possibilities of expansion, show that from the EPP’s point of view this project has all the potential to become an extremely profitable investment,” Dean added.
The King Cross Center Marcelin has 45,353 sqm of GLA with 99 percent leased. After the transaction, EPP will have 19 shopping centers in its portfolio.