Shopping centre group Simon Ivanhoe has sold part of its Polish real estate portfolio to Australia's Macquarie CountryWide Trust for a total of EUR 232 mln. Property advisor Cushman & Wakefield, which acted for the vendor, said the final agreement was signed on 3 July for the sale of five shopping centres in various Polish cities. The shopping centres provide a total gross lettable area of 64,000 m[sup]2[/sup].

Shopping centre group Simon Ivanhoe has sold part of its Polish real estate portfolio to Australia's Macquarie CountryWide Trust for a total of EUR 232 mln. Property advisor Cushman & Wakefield, which acted for the vendor, said the final agreement was signed on 3 July for the sale of five shopping centres in various Polish cities. The shopping centres provide a total gross lettable area of 64,000 m2.

Michael Atwell, Partner and head of Warsaw's capital markets group of Cushman & Wakefield, commented: 'The disposal of the Simon Ivanhoe portfolio is the biggest investment transaction on the Polish market so far in 2007. It was an exceptional retail investment opportunity with a strong mix of international and domestic tenants, high occupancy and good rent collection.'