Investor Nepi Rockcastle said this week that it is in negotiations to acquire Magnolia Park, a €300 mln shopping centre in Wroclaw, Poland, from Union Investment Real Estate.
Magnolia has 100,000 m2 of gross lettable area and is home to 241 stores, with anchor tenants including strong national and international chains, such as Tesco, Castorama, Saturn, Helios, P&C and Decathlon. The centre was completed in 2007 and extended in 2015.
The potential acquisition remains subject to the execution of formal written agreements, which is expected to occur in the coming weeks, the potential buyer said in a statement.
Union bought the property in December 2017 from Blackstone for €380 mln.
