Property group Rockcastle Global announced on Thursday that it has concluded a preliminary agreement to acquire Galeria Warminska shopping centre in Olsztyn, the largest city in northeastern Poland. The company said that it acquired the shopping centre for €150m. The deal represented an acquisition yield of 6% and would be settled from Rockcastle’s existing cash resources. The shopping centre, which has 150 stores, is fully let to major international and national tenants, including H&M, New Yorker, Piotr & Pawel, Reserved, TK Maxx and Zara. Rockcastle said the shopping centre had an annual footfall of about 8.2-million people, making it the most popular centre in the region. Its double-digit growth in footfall and turnover last year would further strengthen its dominance, Rockcastle said.
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