Rockcastle purchases two shopping malls in Silesia

South African listed Rockcastle Global Real Estate, has signed an agreement to acquire two shopping malls in Poland’s Silesia region from giant US manager, Blackrock for €220.8 million, a press release read. Silesian Retail Portfolio comprises two shopping centers in Southern Poland, Karolinka in Opole and Pogoria in Dąbrowa Gornicza. Both malls offer 106,700 sqm in total. The properties were developed in 2008 by Mayland Real Estate and BlackRock acquired them in 2009. "We are very pleased with the acquisition of Karolinka and Pogoria shopping centers. We believe that they both offer substantial scope for growth and will be an important base for our retail portfolio expansion in the future," said Spiro Noussis, Chief Executive Officer at Rockcastle Global Real Estate. The seller was represented in this transaction by real estate advisory firms Cushman & Wakefield and JLL, law firm Dentons and property manager Mayland Real Estate. Beside the takeovers in Silesia, the company is constructing Fabryka Wołomin in Wołomin.