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Oppenheim purchases €132 mln worth of retail facilities in Poland

The property investment company Oppenheim has acquired a portfolio of three hypermarkets, in addition to a shopping gallery adjoining one of them, from GE Real Estate in Poland for €132 million ($180 million).

This is the company’s first purchase of retail properties in Central and Eastern Europe. The hypermarkets are located in Gdansk and Sosnowiec (the adjoining shopping galleries are owned by the London property company Dawnay Day), and that with the shopping gallery – in Zabrze. They possess a total GLA of 66,595 square meters, of which 55,260 square meters is hypermarket space and 11,340 square meters shopping gallery space. All three hypermarkets are anchored by Real, part of the Metro Group.

Rory Houston, Oppenheim’s European Retail Director, commented: “This acquisition is part of Oppenheim’s continuing strategy of increasing our retail assets in selective markets where we foresee long-term growth prospects and combine this with our asset management skill base”. (polishmarket.com)