Hamburg-based Union Investment Real Estate has acquired the Manufaktura shopping centre in Lodz in one of the largest shopping centre transactions of the year. The seller is a property company belonging to French companies Fonciere Euris and Rallye and project developer Apsys, who will continue to manage the shopping centre. Financial details were not disclosed.
Hamburg-based Union Investment Real Estate has acquired the Manufaktura shopping centre in Lodz in one of the largest shopping centre transactions of the year. The seller is a property company belonging to French companies Fonciere Euris and Rallye and project developer Apsys, who will continue to manage the shopping centre. Financial details were not disclosed.
With some 112,500 m2 of rental space, the shopping centre is currently the largest in Poland. Union Investment is acquiring 91,240 m2 of the rental space which is fully let. The DIY store and cinema are not part of the transaction and remain the property of owner-occupiers Leroy Merlin and Cinema City respectively.
Following completion of the transaction, which is scheduled for end 2012, Manufaktura will become part of the open-ended real estate fund UniImmo: Deutschland.
Hogan Lovells and Jones Lang LaSalle advised Union Investment. HSBC France acted as financial adviser to the vendors Apsys, Fonciere Euris and Rallye.
