AB Tewox, an investment company managed by Lords LB Asset Management, has acquired five retail parks in Glowno, Swidnica, Przemysl, Kalisz and Pulawy in Poland.
Financial details were not disclosed.
The retail parks cover 36,000 m2 of combined gross leasable area (GLA) and boast almost 100% occupancy with 90 shops.
'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,' said Efim Hiterer, AB Tewox’s manager.
The biggest grocery chain in Poland, Jeronimo Martins, is the anchor tenant of this portfolio. Its reputation and customer base bring stability and footfall to the parks.
'Convenient size ensures ample space for a well-diversified range of tenants and a balanced exposure to various industries,' added Hiterer.
The deal marks AB Tewox's second venture in Poland's retail market. The firm bought Retail Park Mlyn in Wroclaw from Mitiska REIM in February 2022.
Bank Pekao provided a €40 mln loan to AB Tewox to buy the parks.
'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,' said Beata Peryt, director of the investment banking and real estate financing department at Pekao.
Property management company Colliers will be responsible for the day-to-day running of the retail parks.
'The development of this type of facilities, especially in smaller cities, is a tangible retail market trend. Consumers, tenants, investors - everyone appreciates the parks. We will make every effort to ensure that each visit to the parks we manage builds positive experiences for all users,' added Agnieszka Krzekotowska, senior partner, Colliers.
