EPP completes €141.6 mln mall acquisition
17:40
Real estate investor Echo Polska Properties (EPP) has completed the acquisition of three retail assets – Galeria Twierdza in Kłodzko, Galeria Twierdza in Zamość and Wzorcownia in Włocławek – from property funds managed by Blackstone for a total of €141.6 million. The company originally announced the transaction at the beginning of February. The three malls comprise a combined 73,000 sqm of GLA and are now fully commercialized. The Włocławek and Kłodzko centers were completed in 2009, while the Zamość mall was completed in 2011. All three shopping centers have been managed by Multi Polska since 2014. “We are excited to boost our retail portfolio with another three regionally dominant shopping centers in line with our strategy of becoming Poland’s retail champion. This move aligns with our strategy of investing in dominant centers in major Polish cities where we don’t yet have a presence. We are currently further growing our portfolio and are looking forward to announce new acquisitions,” said EPP CEO Hadley Dean.
