US private equity group Blackstone has announced the acquisition of Galeria Têcza shopping mall in the Polish city of Kalisz for EUR 37 mln. The vendor was Warsaw-listed real estate developer/investor Rank Progress.
US private equity group Blackstone has announced the acquisition of Galeria Têcza shopping mall in the Polish city of Kalisz for EUR 37 mln. The vendor was Warsaw-listed real estate developer/investor Rank Progress.
The 16,000 m2 Galeria Têcza joins the portfolio of Blackstone's specialist Polish shopping centre fund, King's Street Retail. The other assets in the portfolio are Magnolia Park in Wroc³aw, Galeria Twierdza in K³odzko, Galeria Twierdza in Zamoœæ, Galeria Pestka in Poznañ, and Wzorcownia in W³oc³awek. The combined gross leasable area of the portfolio, including Galeria Têcza, comes to more than 200,000 m2.
Opened in October 2011, Galeria Têcza drew more than 500,000 visitors during the first month. The centre is now almost fully let.
All assets in King's Street Retail portfolio are managed by Master Management Group, a retail space manager and developer in Poland.
