European Property Investors Special Opportunities (Episo), a fund co-advised by AEW Europe and Tristan Capital Partners, has completed the purchase of the Jantar shopping centre in a transaction valued at EUR 92 mln.

European Property Investors Special Opportunities (Episo), a fund co-advised by AEW Europe and Tristan Capital Partners, has completed the purchase of the Jantar shopping centre in a transaction valued at EUR 92 mln.

The property, located in the northern Polish city of Slupsk, was developed by Mayland Real Estate and delivered in 2008. The Jantar mall currently comprises 22,250 m2 and will be extended to 45,750 m2 by 2012. At that time, it will be the third-largest regionally dominant retail scheme in northern Poland.

In addition to providing development services to the Episo fund for the planned extension, Mayland Real Estate will provide ongoing property management services.

Jantar is currently 100% leased to tenants including a Real hypermarket, H&M, KappAhl, Deichmann, Empik, Smyk and RTV Euro AGD. Multikino, Zara, Pull & Bear, Bershka, Stradivarius, Reserved, Cropp, New Yorker have pre let space in the planned extension.

Ric Lewis, CEO of Tristan Capital Partners said: 'We are especially pleased to be further diversifying the fund by investing in the Polish retail sector and its current and future growth.'

'The sale of the Jantar Shopping Centre reflects Mayland's winning development formula which attracts first class tenants and ultimately a top institutional buyer,' said Neil Gregory-Eaves of Colliers International, who represented the vendor in the transaction.

Law firm Salans represented the vendor and BLP / Beiten Burkhardt represented the purchaser.