Irish investment firm AIB Capital Markets and its wholly-owned unit AIBPPM have acquired The Fashion House Outlet Centre, a designer outlet centre in Warsaw. The outlet centre is the first property acquired for AIB Capital Markets' second Polish property fund, Polonia Property Fund II Limited. The acquisition price was not disclosed.
Irish investment firm AIB Capital Markets and its wholly-owned unit AIBPPM have acquired The Fashion House Outlet Centre, a designer outlet centre in Warsaw. The outlet centre is the first property acquired for AIB Capital Markets' second Polish property fund, Polonia Property Fund II Limited. The acquisition price was not disclosed.
Upon completion, the 17,272 m2 project will have 960 parking spaces and around 125 retail outlets. Phases one and two comprise a lettable area of 12,205sqm, with phase three currently under construction, AIB said. The outlet centre’s tenants already include international brands such as Nike, Adidas, Levi, Puma, Reebok and Mexx.
The Polonia Property Fund Limited Partnership is a EUR 400 mln closed-end property fund closed in 2003 and currently has a portfolio of 12 properties, 10 in Poland and two in Hungary.