EPP to acquire four shopping centers across Poland for €166.6 mln

Investor Echo Polska Properties (EPP) has signed a preliminary agreement for the purchase of four shopping centers across Poland – Galeria Twierdza in Kłodzko, Galeria Twierdza in Zamość, Galeria Tęcza in Kalisz and Wzorcownia in Włocławek from property funds managed by Blackstone for a total of €166.6 million. The transaction, in which the buyer and the vendor were represented by Colliers International and JLL respectively, is expected to be finalized in April this year. The Kłodzko, Zamość, Kalisz and Włocławek malls offer more than 23,000 sqm, over 23,700 sqm, more than 16,000 sqm and over 25,600 sqm of leasable space respectively. The Włocławek and Kłodzko centers were completed in 2009, while the Zamość and Kalisz malls were completed in 2011. All four shopping centers have been managed by Multi Polska since 2014. The malls are the dominant shopping centers in their respective regions and their acquisition by EPP is a major element of the company’s long-term strategy of building a portfolio of retail properties, said EPP CEO Hadley Dean.

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