DL Invest Group has finalised the sale of the DL City shopping centre in Zgorzelec in Lower Silesia. The return on equity of the transaction is 253% and the return on the investment comes to as much as 63%.
DL Invest Group bought the centre in January 2020. “At the time we obtained a significant discount due to the very difficult situation of the project, which several international consulting companies have tried unsuccessfully to restructure over the past five years. In the next 18 months, until July this year, we carried out a comprehensive renovation of the centre, breathing new life into it. We made changes to its functionality and created a new tenant mix. In the app. 25,000 sqm centre, new brands have since appeared. We also expanded the food court and created zones for families with children. The entire restructuring process was carried out with DL Invest Group’s own resources, without the help of external companies”, says Dominik Leszczyński, the CEO of DL Invest Group.
All the formalities related to the sale of DL City have already been completed and the new owner takes over the management of the facility as of today.
"This transaction also represents confirmation of the still dormant potential in the retail property market. And I don’t just mean retail parks, which have been a consistently desirable asset class since the outbreak of the pandemic (and this popularity, in my opinion, will continue to grow), but also shopping centres, whose star has waned a little in recent months. We believe (and our faith has been confirmed by DL City’s buyer) that well-managed and well-tailored projects are still attractive assets in terms of investment opportunities", sums up Dominik Leszczyński.
