Patron Capital, the pan-European real estate investment manager, in partnership with Trei Real Estate, an international developer and asset holder for residential and retail real estate, sold six Polish retail parks to a joint venture between Generali Investments CEE and SCF, for around €110 million.
The six food-anchored convenience assets were developed as part of a joint venture, established in 2021, between Patron Capital's Fund VI and Trei. Comprising a total of 68,000 sqm, the assets are located across Poland, in Chorzów, Otwock, Skarżysko-Kamienna, Szczecin, Kostrzyn nad Odrą, and Zambrów.
"The fundamentals underpinning the Polish market combined with an ongoing shift towards convenience-driven shopping has meant the retail park sector continues to perform well," said Wiktor Lesiński, Investment Director and Partner at Patron Capital.
The sector's resilience through economic cycles, supported by a relative undersupply of modern retail formats in regional cities and towns, have created an investment case for Patron, he added. "This transaction reflects both the quality of the assets we have developed with Trei and our continued confidence in the Polish retail park sector."
