News Article Focus Estate Fund investment Legnica Poland retail
by Property Forum | Investment

Focus Estate Fund is expanding its operations in Poland with the acquisition of Ferio Legnica (a shopping centre in the city of Legnica in southwestern Poland) from Austria's Raiffeisen Bank International. CBRE represented the seller in the transaction. Czabański & Gałuszyński together with Gleeds and KKLW advised the buyer. The price has not been disclosed.

The retail centre comes with a leasable area (GLA) of approximately 13,200 sqm, including 11,965 sqm of retail space and 1,269 sqm of offices, with a footfall of approximately 2 million a year.

The centre was opened in 2007. Key anchors include Netto, Pepco, Kik, Sinsay, Jysk, Action, Rossman as well as other tenants. Ferio Legnica offers customers a free covered parking facility with 334 spaces. There is excellent access to the shopping centre both by car and by public transport as the centre is located in the heart of Legnica right next to the Old Town.

A significant increase in the size of Focus Estate Fund portfolio took place in the period of the last 18 months. The acquisition of The Turawa Park Shopping Centre in Opole and Atrium Mosty Shopping Centre in Płock has resulted in a change of dimension for Focus Estate Fund. The last acquisition of 2022 took place right before the closing of the year, during the month of December. Despite still being in the early days of 2023, the business portfolio was once again expanded, increasing the total number of shopping centres in Poland to 6. 

Commenting on the acquisition, Maxim Shkolnick, Focus Estate Fund General Partner, said: “We are very pleased that all stages leading to the acquisition of Ferio Legnica from Raiffeisen Bank  International have been completed successfully, acquiring a high-potential retail destination. The business will undoubtedly go on to maximise the potential of the centre and lead it into a fresh new chapter. Although it is now substantially pre-leased, we have identified a number of exciting customer-centric, value-added opportunities that we want to pursue in line with our investment strategy. This acquisition reflects the company's plans to locate strategic assets in different geographical parts of Poland. After this acquisition, our AUM in Poland reached roughly €65 million. One of the strategic plans is to scale up our portfolio in other parts of Europe, i.e. in countries such as the UK, Portugal, Spain, the Czech Republic, Italy and others.” 

„We are delighted to have played a role in the successful sale of Ferio Legnica Shopping Centre to Focus Estate Fund. It was a pleasure working with the buyer and we look forward to continuing our partnership in the future. This acquisition will bring new opportunities and growth to the centre, and we look forward to seeing the positive impact it will have on the tenants, shoppers, and the community as a whole," said Michał Berski Associate Director in the Capital Markets Department at CBRE.

Focus Estate Fund (FEF) is a real estate investment fund focusing on non-prime retail properties in the EU. The Fund’s strategy is to invest in the existing mid-scale commercial properties in the most dynamic European markets.