Focus Estate Fund, a real estate investment fund targeting non-prime retail properties in Central and Eastern Europe, has acquired the Atrium Mosty shopping centre in Plock, central Poland.
The 18,000 m2 mall was purchased for an undisclosed sum from CEE-focused commercial property group Atrium, its owner since 2010.
It is the fifth investment by the fund to date in the Polish retail sector. The other four assets are located in the cities of Opole, Sandomierz, Zgorzelec and Bartoszyce.
Focus Estate Fund is run by a team of investment professionals based in Poland, the Czech Republic and Ukraine. It aims to invest €100 mln in mid-scale properties over the next two years, targeting individual ticket sizes of €5-25 mln.
On its website, the fund says it focuses on deals that are ‘too small for large funds, and too big for private investors’.
In the latest transaction, Atrium was represented by JLL, while the buyer was represented by Czabanski & Galuszynski, Gleeds and KKLW.
