Plaza Centers to sell Toruń Plaza mall for €70 million

WSE-listed commercial real estate developer Plaza Centers signed a non-binding letter of intent with an unnamed investment fund to sell its retail center Toruń Plaza for €70 million plus additional payments up to €4 million after the additional earn-out period. The transaction is expected to be completed by September 2017 after the due diligence process. Plaza Centers plans to use a part of the earnings to pay off bank loans related to the investment.