JSE-listed Echo Polska Properties buying four shopping centres in Poland
Echo Polska Properties is buying four malls in Poland in a R2.4bn deal using funds managed by the Blackstone investment group
JSE-listed Echo Polska Properties (EPP) is set to acquire four retail assets across Poland from real estate funds managed by the Blackstone investment group in a deal worth €166.6m (R2.4bn). The acquisition includes the 23,039m² Galeria Twierdza shopping centre in Klodzko, as well as an adjacent plot with a Broaster Chicken drive-in restaurant. The other three malls are Galeria Twierdza in Zamosc, which is 23,785m² in size, Galeria Tecza in Kalisz, which is 16,003m² and Wzorcownia in Wloclawek, which is 25,629m². The Wzorcownia and Twierdza Klodzko have been operational since 2009, and Twierdza Zamosc and Galeria Tecza since 2001, and boast a diverse tenant mix with anchor tenants across the four assets including LLP Group, H&M, Rossman, Carrefour and Cinema 3D. To secure the malls, EPP will acquire 100% of the equity in Klodzko Retail, Zamosc Retail, Kalisz Retail and Wloclawek Retail.
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