News Article Blackstone EPP investment Poland retail
by Ákos Budai | Investment

Echo Polska Properties announced the conclusion of the acquisition of three retail assets, Twierdza in Kłodzko, Twierdza in Zamość and Wzorcownia in Włocławek in Poland, from real estate funds managed by Blackstone for €141.60 million.

The transaction was originally announced on 1 February 2017.
EPP acquired a portfolio of 73 000 sqm GLA. The projects are located in the Southern and Northern part of Poland and all are 100% leased. The acquired centres include Galeria Twierdza shopping centre in Kłodzko, Galeria Twierdza shopping centre in Zamość and Wzorcownia shopping centre in Włocławek. Having been operational since 2009 (Wzorcownia and Twierdza Kłodzko) and 2011 (Twierdza Zamość), respectively, they boast a diverse tenant mix with anchor tenants including LLP Group, H&M, Rossmann, Carrefour, Cinema 3D, CCC, Empik and Smyk.
Since 2014, Multi Poland has managed these shopping centres. Multi Poland is part of Multi Corporation, an owner, manager and (re)developer of shopping centres in Europe and Turkey.