Rockcastle Global Real Estate has concluded the preliminary agreements to acquire the shopping centres known as Focus Park Zielona Góra and Focus Mall Piotrków Trybunalski in Poland. Rockcastle said all conditions had been met and the transaction had been concluded on November 30. The aggregate purchase price for the two malls was €160m (about R2.35bn) which was settled from Rockcastle’s existing cash resources and represents an average acquisition yield of about 6.5%. The Focus Park shopping centre has a gross lettable area of 26,800m² and opened for trading in 2008. It is the largest retail destination in the city of Zielona Góra, which has a population of 138,000. With an annual footfall of more than 5.2-million, Focus Park has the highest footfall in the region. The shopping centre’s list of retailers includes Bershka, C&A, H&M, KFC, McDonald’s, New Yorker and Smyk. The site allows for a shopping centre gross lettable area extension of at least 12,000m². Rockcastle said it inten...
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