Hamburg-based fund manager Union Investment Real Estate has acquired a shopping centre in central Poland from Rockspring Property Investment Managers.
The investment volume was not disclosed.
Rockspring was represented by Cushman & Wakefield and law firm Dentons. Union Investment was advised on the deal by JLL and law firm Hogan Lovells.
Ferio Konin is situated 5 kilometres from the city centre of Konin and has a catchment area of 300,000 inhabitants. Opened in 2008, the shopping centre consists of 74 units over 35,585 m2 of retail space. An extension programme in 2013-2014 added an additional 2,500 m2 of space to 'enhance anchoring and helped create a balanced customer flow', Cushman & Wakefield said. The central food court has also been remodelled.
The shopping centre and the anchor tenants are all international retailers: fashion retailers H&M and C&A, supermarket group Intermarché, DIY store Castorama, electronics retailer Media Markt, and Sports Direct.
Kevin Muscat, European director at Rockspring, said: 'Having originated this investment off-market in 2010, we are delighted to have worked so successfully with retail specialist Balmain in delivering on such an active business plan and now to have completed the sale.'
The shopping centre is also shortly to be awarded a 'Very Good' BREEAM rating.
