1:05 21 January 2022
Stage Capital announces retail acquisition in Poland in their second fund
On December 22, 2021, Stage Capital, a European secondaries’ investor, acquired a portfolio of shopping centers in Poland from Pradera Central European Fund. The acquisition was on behalf of Stage Capital Laurel II, Stage Capital’s second fund, and backed from funds managed by Glendower Capital.
The assets are based in the Polish cities of Łódź (Pasaż Łódzki Shopping Center), Konin (Galeria Nad Jeziorem Shopping Center) and Gdańsk (Osowa Shopping Center), and total c.75,000 sqm.
“We are pleased to have acquired three well-performing assets at attractive yields in a sector and region where we have much experience. In line with our overall strategy, we have provided a liquidity solution in a very complicated transaction and a challenging sector. We continue to see a lot of potential in Poland and CEE, and are currently assessing further opportunities,” James Huckle, Partner of Stage Capital, said.
Stage Capital Laurel II is Stage Capital’s second fund, with the portfolio of shopping centers serving as the first asset. Stage Capital is seeking to make further acquisitions in the secondary and real estate space.
Stage Capital was advised by Dentons (legal), Sierra Balmain (commercial and technical), and EY (financial and tax). Pradera was advised by Greenberg Traurig (legal), with the transaction being run by JLL.
(WBJ)
