The Czech investment group SCF has completed the acquisition of Janki Retail Park in Warsaw, located next to the shopping centre of the same name that SCF has owned for two years. The seller was LCP Poland, part of M Core.
The retail park houses Media Markt and TK Maxx stores spanning over 7,000 sqm.
"We have long considered Poland to be one of the most attractive retail real estate markets in Central Europe. That is why we have our own office here, staffed by a team of local experts, and we are actively expanding our portfolio of investment properties in the country," says Josef Malíř, CEO and Owner of SCF.
"This transaction is consistent with our long-term portfolio management strategy. We continue to focus on the development of retail parks under the M Park brand, while actively reviewing our assets to ensure the best strategic fit within our portfolio," said Magdalena Kowalewska Kasperowicz, COO of LCP Poland.
SCF entered the Polish retail market two years ago by acquiring six shopping centres from Cromwell Property Group for almost €300 million. This year, the group expanded with the acquisition of Jantar shopping centre in Słupsk, with a leasable area of 44,000 sqm. Aareal Bank provided financing for the transaction, with JLL, Gleeds and Dentons providing advisory services.
