Tewox, an investment company under the management of Lithuania’s Lords LB Asset Management, has announced a significant expansion into the Polish retail market with the acquisition of two retail parks from Capital Park Group. The newly acquired properties are located in Łódź and Radom.
This latest acquisition marks Tewox’s third foray into Poland, bringing its total to eight retail parks and expanding its retail space to 55.7 thousand square meters. The new parks cover nearly 10,000 square meters and feature approximately 30 tenants, including major retailers such as Lidl and Jeronimo Martins.
Paulius Nevinskas, CEO of Tewox, emphasized that the acquisition aligns with the company’s strategy of investing in retail spaces that attract leading Polish retail and service operators. This approach is intended to ensure a reliable rental income stream.
“We are committed to enhancing the sustainability of these properties by adhering to stringent environmental, social, and governance (ESG) criteria,” Nevinskas said. “Our focus on diverse tenants will help us maintain a competitive edge and ensure stable income for our investors.”
Nevinskas also highlighted the growing appeal of the retail park model, noting its resilience and increasing popularity. Tewox continues to seek out additional investment opportunities in the Polish commercial real estate sector.
Investment Director Jan Wałach and his team, working alongside both local and international partners, played a crucial role in the swift completion of the transaction. “We are grateful to the sellers for their support and smooth facilitation of this acquisition,” Nevinskas added.
Anna Tomaszewska, Head of Investments at Capital Park Group, commented, “We are pleased to complete the sale of these retail parks to Tewox. This transaction underscores the attractiveness of the Polish retail market. Tewox’s commitment to sustainability and its strong tenant mix will undoubtedly enhance the properties’ value and success.”
Tewox engaged mBank as its financial partner and Norton Rose Fulbright for legal counsel for this transaction. With this acquisition, Tewox’s real estate assets under management in Poland now exceed €90 million. The company’s recent expansions also include the purchase of Retail Park Mlyn in Wrocław in February 2022 and several retail parks across Poland over the past year.
