Real estate fund management group Europa Capital has sold a portfolio of 14 retail shopping centres and supermarkets in Poland to Balmain European Retail Properties for EUR 52 mln. The deal represents an initial yield of 7.6%, Europa Capital said.
Real estate fund management group Europa Capital has sold a portfolio of 14 retail shopping centres and supermarkets in Poland to Balmain European Retail Properties for EUR 52 mln. The deal represents an initial yield of 7.6%, Europa Capital said.
The portfolio is located in 13 towns and cities across the country and has been acquired since late 2005. All properties were bought at attractive yield and were ‘underpinned by a quality supermarket tenant in all cases,’ Europa Capital’s Simon Hooper said. ‘Given the stabilisation of property yields in the central and eastern European region, we took the opportunity to move the assets on.’
The buyer is a recently formed joint venture between Balmain Asset Management and HBOS.
