ARTICLES LABELLED WITH TAG mall

Commerz Real has founded a joint venture together with Unibail-Rodamco for the Prague shopping centre Metropole Zlicin, which has until recently been fully owned by its open-ended real estate fund hausInvest. To this end it has sold 50 per cent of its shares in the property company to Unibail-Rodamco. It was agreed that confidentiality be maintained on the purchase price. Unibail-Rodamco will be assuming the asset and property management for the centre.

Echo Investment and EPP (Echo Polska Properties) have concluded a loan agreement worth €175 million and a VAT loan of PLN 34 million with Bank Zachodni WBK S.A. as an agent as well as PKO Bank Polski S.A. and Bank Gospodarstwa Krajowego. The acquired funds will be used for the construction of Galeria Młociny in Warsaw. The loan was granted for the construction period and a five-year investment period.

French real estate group Catinvest plans to expand Electroputere Parc, the company’s shopping mall in Craiova, by 9,200 sqm. The group has also started the construction of an additional mixed-use building which will comprise 12,000 sqm of retail space, 15,000 sqm of Class A office space and over 700 underground parking spaces. Total investment in will exceed €70 million by the end of 2018.

Poland continues to attract brands from across Europe. The significance and the share of the Food & Beverage proposition within shopping centers continues to grow. Furthermore, both new retail concepts and mixed-use projects have become increasingly popular as well. JLL presents its summary of the Polish retail market as of the end of Q3 2017.

Echo Investment has concluded a contract with Bank Zachodni WBK S.A. as an agent as well as Bank BGŻ BNP Paribas S.A. concerning a loan of over €67.5 million and a VAT loan of PLN 12 mln. The funds will be used for the construction of Galeria Libero in Katowice.

pbb Deutsche Pfandbriefbank provided an investment facility of €22 million to CBRE Property Fund Central and Eastern Europe, an investment fund focusing on retail assets in Poland and Slovakia, managed by CBRE Global Investors. This is the second transaction after the refinancing of Wars Sawa Junior retail scheme one month ago. CBRE PFCEE will use the proceeds for the refinancing of the dominant Europa Shopping Center in Banská Bystrica. pbb acted as arranger and sole lender under the facility.

REICO, Česká spořitelna’s real estate fund manager, expanded its Polish portfolio by the acquisition of the Galeria Sloneczna shopping centre in Radom. The value of the fund’s new acquisition is approximately €164 million (CZK 4.3 billion). The seller is an American insurance group that developed the asset in a joint venture partnership with AIG/Lincoln (now White Star Real Estate).

Galeria Północna, GTC’s latest retail development in the Polish capital has officially opened. The mall has a total leasable area of 64,800 sqm and is LEED Gold pre-certified.

Knight Frank has been appointed sole agent of the Galeria Ostrowiec shopping mall. Experts from the company’s Retail Agency will diversify the offer of the shopping mall, owned by First Property Group.

Delta Holding subsidiary Delta Real Estate, in cooperation with AP investments, has finalised the acquisition of a shopping mall in Varna, Bulgaria. The project is worth €120 million and it will be completed in May 2018.