Plaza to sell two commercial centers for €121 mln

Plaza Centers has signed a non-biding letter of intent with a global investment fund to sell two commercial centers: Toruń Plaza and Suwałki Plaza for €121 million, the company said. "Both facilities have around 60,000 sqm of GLA, including 40,000 sqm in Toruń. The price may change based on net operating income (NOI) and future NOI," a statement said. The transaction is to be concluded in October. The Plaza Centers Group is an emerging markets developer of shopping and entertainment centers, it has been listed on the WSE since 2007. The company is a subsidiary of Israel's Elbit Imaging traded on the Nasdaq and in Tel Aviv.