Private equity real estate investment fund Focus Estate Fund has entered the UK market with the acqusition of the Island Green Retail Park in Wrexham.
The fund, which specialises in non-prime retail properties in western and central Europe, has mostly focused on Poland to date.
According to Focus Estate, the tenant mix at the Wrexham retail park comprises well-known brands and chains such as Next, Smyths Toys, Poundland, Iceland Food and others. The total Gross Internal Floor Area (GIA) is 103,305 ft2 (10,000 m2).
Maxim Shkolnick, general partner at Focus Estate, said: 'This is a significant moment for us as a fund, as we venture into the UK market, recognised as a global leader in commercial real estate.
'Island Green Retail Park is a prime asset with tremendous potential, and we are committed to building upon its success.
'We look forward to continuing to expand our portfolio not only in the UK but also in other key markets such as Italy, Spain, Czech Republic, and beyond.'
Cushman & Wakefield represented the buyer, while Metis Real Estate Advisors acted as the seller's agent on behalf of clients of Nuveen Real Estate.
'Identifying new overseas investment capital, such as Focus Estate Fund, and then guiding them through the nuances of the UK investment market has always been a strength of Cushman & Wakefield’s EMEA retail investment team,' said Marcus Wood, head of retail & leisure investment at Cushman & Wakefield.
In January, Focus Estate Fund concluded the acquisition of Galeria Sandecja shopping centre in Nowy Sacz, Poland, adding 182,986 ft2 to its portfolio.
The transaction represented the fund's seventh investment in the Polish retail sector.
