Rockcastle Global Real Estate finalized the first of three deals it recently secured on the Polish market. The €160m deal includes Focus Mall in Zielona Góra and Focus Mall Piotrków Trybunalski, totaling 62,000 sqm of space. The seller is Aviva Investors. Cushman & Wakefield, Hogan Lovells, Arcadis and PwC advised RockCastle in the transaction, while JLL, Dentons and Deloitte represented the seller.
The transaction is one of three deals the South African fund recently initiated in Poland. The other two include the acquisitions of the 92,425 sqm Bonarka City Centre (for around €361m) from Trios Dutch Holdings and Galeria Warmińska in the city of Olsztyn from Libra Project 2, worth €150m
Last year, RockCastle took over a Silesian retail portfolio that included the Karolinka, Platan, Pogoria and Solaris shopping centers in Poland, for which it recently secured a €163.6m refinancing deal from a consortium made up of ING Bank, Deutsche Pfandbriefbank and Helaba. As reported by CIJ last month, RockCastle may double its Polish portfolio in the medium-term, which reported has €1bn worth of investments in the local retail sector.
