African investor Rockcastle acquired two Polish regional retail centers from BlackRock, in a deal worth more than €220m. Rockcastle will pay €145.4m for Karolinka and €75.4m for Pogoria, using external financing. The transaction is expected to close by the end of the year. It’s the investor’s third acquisition on the Polish market, following its takeovers of Fabryka Wołomin and Solaris Center.
The Karolinka and Pogoria centers offer 70,000 sqm and 37,700 sqm of space respectively. Karolinka generates €9.4m (€11.2 per sqm) in annual rental income, while Pogoria nets €5.1m (€11.4 per sqm). Located in the city of Opole, Karolinka has a catchment area of 400,000 residents. Auchan, Leroy Merlin and Decathlon are anchoring the project. The 70,000 sqm Pogoria is the biggest retail center in Dąbrowa Górncza, with Obi, Aucha and Helios anchoring the scheme.
