A fund advised by investment manager Meyer Bergman has taken full control of Galeria Katowicka, the award-winning Polish shopping centre that it developed with Neinver and Poland’s state railway company PKP.
A fund advised by investment manager Meyer Bergman has taken full control of Galeria Katowicka, the award-winning Polish shopping centre that it developed with Neinver and Poland’s state railway company PKP.
Meyer Bergman European Retail Partners entered into a 50/50 JV with Neinver to develop the scheme in late 2010 alongside PKP, which contributed the land in the venture.
The fund purchased an additional 30% stake in the JV in 2012. It has now acquired the remaining interest from Neinver and PKP for an undisclosed sum.
The €240 mln redevelopment in Katowice, the regional capital of Silesia, opened in September 2013 as part of the city's programme to regenerate its city centre. It offers 47,500 m2 of retail space with direct access to the main railway station and the new underground bus station.
Occupying the centre’s 200 stores, restaurants and cafés are brands including Peek & Cloppenburg, Zara, TK Maxx, Multikino, C&A, Reserved, Euro, Douglas, and Tiger. The centre boasts 13 million visitors a year.
'Since opening, Galeria Katowicka is well on its way to becoming a high performing asset that will appeal to institutional investors who are looking for exposure to one of the strongest growth markets in Europe,' commented Mark Gamble, Meyer Bergman’s head of Asset Management.
Meyer Bergman has appointed Apsys Poland as Galeria Katowicka’s property manager.