LCP Poland, part of M Core, has completed the acquisition of Galeria Chełm from Equilis and Acteeum. The transaction value was not disclosed. The purchase adds more than 17,000 sqm of retail space and 55 tenants to LCP Poland's portfolio.
Opened in 2020 and jointly developed by Equilis and Acteeum, Galeria Chełm is a fully let retail centre located at the junction of Lubelska and Rejowiecka streets in Chełm, at one of the city's main transport intersections. The property holds a BREEAM Very Good certificate and offers 509 parking spaces. Tenants include Lidl, Reserved, Sinsay, Rossmann, Hebe, CCC, RTV Euro AGD, Martes Sport, Smyk, Rituals and New Yorker.
"The purchase of Galeria Chełm is another important step in our development and confirms how significant the Polish market is for us. In recent years we have successfully grown the M Park retail park format, which now covers almost 80 properties. At the same time we see potential in other retail formats, and Galeria Chełm is an example of that," said James Fife, CEO of LCP Poland, part of M Core.
"The sale of Galeria Chełm is an important milestone for Equilis and confirms the value created through our long-standing cooperation with Acteeum. Together we developed a well-functioning retail centre that has become a favourite shopping destination in the region. This transaction also confirms the effectiveness of our DuoDev 1 fund's investment strategy," said Carl Mestdagh, Executive Chairman of Equilis Europe. Anna Grams-Szalacha, Finance Director and Asset Manager at Acteeum Group, added: "The centre opened at the start of the COVID-19 pandemic and, despite the challenges of that period, gained the trust of millions of visitors over the past six years. We are pleased to hand Galeria Chełm over to LCP in such good condition."
Following the acquisition, LCP Poland will begin adapting the property to its standards and marketing strategy. All retail parks in the LCP portfolio operate under the M Park brand, while other retail assets receive an "M" prefix to reinforce their place within the platform. The property will be rebranded as M Galeria Chełm, with its visual identity updated to align with the standards applied across the LCP portfolio. A comparable approach was previously applied to M EMKA in Koszalin.
