EPP acquires shopping mall in Inowrocław for €55 million

14th July 2017 | Ákos Budai
Echo Polska Properties NV (EPP) has finalised another acquisition – a takeover of Galeria Solna in Inowrocław from a company owned by Libra Project and Acteeum Group. The value of the deal was €55.4 million.
CEO Hadley Dean says: “We are excited to add another regionally dominant centre to our portfolio which advances our claim of building a Polish retail property champion. In the last 9 months we have added 7 retail acquisitions meaning we have now 16 major retail locations across Poland.” In line with EPP strategy the 24 000 sqm centre is located in a regionally growing Polish city with a large catchment area and a proven track record since opening in 2013.

Galeria Solna was opened in May 2013. It’s fully leased with a GLA of over 23,500 sqm. Its tenants include Tesco hypermarket and Polish and international retailers such as CCC, H&M, Reserved, Rossmann, Martes Sport, Deichmann, Smyk, Empik, Media Markt supported by the food court with McDonald’s and other food concepts. A DYI store Leroy Merlin is located in the direct vicinity of Galeria Solna.
 
The shopping centre was awarded a BREEAM certificate.
 
Colliers International, Dentons law firm, Deloitte, APP Projekt were EPP’s advisors in the deal. JLL and Baker McKenzie law firm represented the Seller.