ARTICLES LABELLED WITH TAG retail

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.

Focus Estate Fund investment fund acquired Most Retail Park located in Most, Czech Republic, comprising 6,471 sqm of retail space. This is Focus Estate's third investment in European commercial real estate. The investment fund previously bought Ostrava Retail Park (Ostrava, Czech Republic) and Galeria Sandomierz (Sandomierz, Poland).

Echo Polska Properties has reached an agreement to acquire a portfolio of retail properties for €692.1 million. The portfolio comprises twelve retail properties of which eight comprise shopping centres and four retail parks with over 620 stores situated in strong regional cities across Poland. The portfolio has an aggregate gross lettable area around 450,000 sqm. The seller is the Chariot Top Group, owned by Pimco (37.5%), Oaktree Capital Management (37.5%) and Redefine Properties (25%).

A subsidiary of NEPI Rockcastle has entered into an agreement to acquire two shopping centres in Poland for an aggregate sum of €249.4 million. Shopping centres Serenada (41,170 sqm) and Krokus 27,728 sqm) are to be extended for a further €212 million thus creating a single integrated shopping centre with a GLA of over 100,000 sqm.

Poland is an attractive market to global investors. Its key strengths include the large population of nearly 40 million, a strategic location in Europe, strong economic growth and infrastructure developments, encouraging an increasing number of retailers to enter the Polish market. Contrary to appearances, deciding whether to expand is not an easy task even for the strongest corporations. Szymon Łukasik, Head of the Retail Department at Cresa Poland wrote about launching new brands on the Polish market.

HBK, asset manager of Direkt Invest Polen fund, finalised the sales transaction of a retail portfolio, comprising seven existing properties as well as development lands for new projects. Master Management Group became new owner of the portfolio. The total value of the transaction is approximately €60 million.

DIY retailer Dedeman has agreed to buy a 27,000 sqm plot in Western Bucharest from Industria Iutei for approximately €6.7 million, zf.ro reports.

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.