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

Focus Estate Fund has finalized the purchase of the Galeria Sandecja shopping centre in Nowy Sącz, Poland. With a total area (GLA) of 17,650 sqm, this is the seventh investment for the fund in the Polish retail sector. The seller of the property, TK Development was represented by Colliers International, while the buy side was backed by Czabański & Gałuszyński, Gleeds and KKLW. The price has not been disclosed. 

Galeria Sandecja boasts over 70 shops, service points, and dining options. The tenant mix includes such brands as H&M, New Yorker, Martes Sport, Douglas, Deichmann, CCC, and others. Additionally, it houses the only Carrefour hypermarket in the region. The shopping centre offers parking with 800 parking spaces, ensuring convenience for visitors. Moreover, it provides a range of services and amenities, including car wash facilities (both manual and touchless), a children's play area, and proximity to other conveniences such as a gas station, medical clinic, and automotive centres.

Maxim Shkolnik, General Partner of Focus Estate Fund, stated: „With the acquisition of Galeria Sandecja, we're proud to announce that our total leasable area (GLA) has exceeded 100,000 square meters in Poland. We're strategically diversifying our portfolio through targeted acquisitions of mid-sized convenience shopping centres in Poland. We're also actively seeking opportunities in the UK, Italy, Spain, the Czech Republic, and other select countries. Furthermore, we're also considering installing solar panels, a sustainability initiative we've implemented across our portfolio, aimed at reducing our carbon footprint. A key element of this deal was the invaluable support and partnership provided by BNP Paribas Bank Polska, our valued strategic partner in Poland. BNP Paribas Bank Polska possess significant sectoral expertise and prioritize what is best for business when structuring relationships. Therefore, working with them is a pleasure because we speak the same language".

"We are pleased to have completed another successful transaction with Focus Estate Fund. Galeria Sandecja, is an important shopping hub in the region, we appreciate all ESG initiatives which are planned by the new management and believe their dedication will take it to new heights. We hope we will continue to develop our partnership," stated Elżbieta Chmielowska, Head of Real Estate Finance Bureau at BNP Paribas Bank Polska.