AB Tewox, an investment company managed by Lords LB Asset Management, has acquired five retail parks comprising 90 shops in Poland.
AB Tewox said it has secured a €40m loan from Bank Pekao to buy the parks in Głowno, Świdnica, Przemyśl, Kalisz and Puławy.
TAB Tewox said the retail parks, which cover 36,000sqm of gross leasable area, is almost fully occupied.
The deal represents AB Tewox’s second venture in Poland, following the firm’s acquisition of Retail Park Mlyn in Wroclaw from Mitiska REIM in February last year.
Efim Hiterer, AB Tewox’s manager, said: “The retail parks are poised to become bustling commercial hubs, catering to the growing needs of the local population. By this strategic move, we aim to strengthen our position in Poland and diversify our investment portfolio by tapping into new markets.”
Beata Peryt, an investment banking and real estate financing director at Pekao SA, said: “We strive to support our clients developing commercial real estate projects, especially in Poland, as we highly value this market segment.
“We are delighted to participate in this transaction and would like to thank AB Tewox for trust and cooperation.”
To read the latest edition of the latest IPE Real Assets magazine click here.
No comments yet