Chariot Group, an investment platform managed by Griffin Real Estate on behalf of an investment consortium, has sold M1 Marki shopping center to Redefine Europe – a wholly-owned subsidiary of Redefine Properties Limited, a Real Estate Investment Trust (REIT) listed on the Johannesburg Stock Exchange (JSE). The deal, which value remains undisclosed, is another successful sale that Chariot has performed this year, in line with the platform’s divestment strategy.
M1 Marki is a 44 thousand sqm prospering shopping center with two retail buildings and a diverse tenant mix. Located in the northeast of Warsaw, the facility has both large-format shops and service outlets with anchor tenants such as building supplies store OBI and hypermarket Auchan. The latter one, a long-standing partner of Chariot, has extended its lease last year, signing a multi-year contract.
“We are very pleased with this purchase. Since the Polish retail market has been quickly recovering from the COVID pandemic, we have been looking for opportunities to strengthen our presence in Poland. This asset is a great addition to our portfolio. Convenience centers with a good offer for everyday shopping are currently a growing share of the market, producing profits and thus having a good long-term perspective,” Pieter Prinsloo, Chief Executive Officer at Redefine Europe, said.