Atrium European Real Estate has completed the acquisition of the Focus Mall shopping centre in Poland from Aviva Investors for €122 mln.
Atrium European Real Estate has completed the acquisition of the Focus Mall shopping centre in Poland from Aviva Investors for €122 mln.
JLL advised Aviva Investors and CBRE acted for Atrium in the transaction, which was first announced on 9 October 2014. Law firm Dentons secured approval for the acquisition from the Polish Office of Competition and Consumer Protection in less than eight weeks, allowing Atrium to complete the deal this year.
´Investors are increasingly interested in regional commercial real estate markets, both large and smaller, recognising their growing potential. In the coming years, these cities will witness a gradual increase in the number of transactions across all segments of the commercial real estate market as well as the implementation of new projects. There is an interesting trend that is rapidly gaining in popularity to expand and revitalize older buildings. This trend is now reaching smaller cities,´ said Mike Atwell, head of capital markets CEE at CBRE.
The Focus Mall Shopping Centre in Bydgoszcz was developed by Parkridge Retail Development and commissioned in 2008. The two-storey building offers 41,000 m2 of retail GLA and features tenants such as Alma, Saturn, Cinema City, Intersport, Zara, Reserved, C&A and New Yorker. The building has 850 parking spaces located on two levels.