CBRE Global Investors has acquired the Jantar shopping centre in the northern Polish city of Slupsk for a net purchase price of €92 mln, reflecting a net initial yield of 7.1%.
The asset was acquired from Tristan Capital Partners on behalf of one of CBRE GI's separate account clients.
The regional centre provides 44,364 m2 of retail space including a six-screen cinema Multikino multiplex and a food court with a wide range of restaurants.
'We acquired this well-performing centre as the first direct acquisition for this client in Poland,' said Jeroen de Grunt, portfolio director of separate accounts EMEA at CBRE Global Investors. 'Poland provides an attractive pricing/risk premium in comparison to shopping centres in Western Europe, and fits with our client's strategy to acquire dominant regional shopping centres with limited competition.'
Martin Sabelko, managing director CEE at CBRE Global Investors added: 'Retail investments in Polish second-tier cities are offering prime investment opportunities and are in line with our strategy. Our long-standing team continues to be active on the ground looking to source additional investments for our clients.'
CBRE Global Investors was advised by Linklaters, Savills and CBRE Building Consultancy. Tristan Capital Partners was advised Cushman & Wakefield and Dentons.
