Investment company Tewox, managed by the Lords LB asset management company from Lithuania, has announced the acquisition of two additional retail parks in Poland from an investor, developer and asset manager Capital Park Group, situated in the cities of Łódź and Radom. This strategic investment marks Tewox’s third venture into the Polish market, bringing its total holdings to eight retail parks encompassing 55.7 thousand square meters of retail space.
The newly acquired retail parks in Łódź and Radom span nearly 10,000 square meters and host around 30 tenants, with significant space allocated to prominent retailers Lidl and Jeronimo Martins.
Paulius Nevinskas, CEO of Tewox, highlighted that this acquisition aligns with the company’s strategy of investing in retail properties that attract well-established Polish retail and service operators, thereby ensuring a steady stream of rental income.
“This transaction underscores our commitment to sustainability, adhering to environmental, social, and governance (ESG) criteria, which we are going to enhance at the acquired properties” Nevinskas stated. “Moreover, we prioritize leasing to tenants that provide a diverse range of services and activities, which is crucial for maintaining a competitive and stable income for our investors.”
Nevinskas emphasized the growing popularity and resilience of the retail park business model, noting its increasing appeal in the market. He affirmed that Tewox remains focused on identifying and seizing further investment opportunities within the Polish commercial real estate market.
“A seasoned team of specialists lead by Investment director Jan Wałach collaborate with both local and international entities, enabling us to swiftly capitalize on market opportunities. He extends sincere gratitude to the sellers for their exemplary support and seamless facilitation in the acquisition. The smooth process and outstanding collaboration have been greatly appreciated, ensuring a successful and efficient transaction,” added Nevinskas.
“We are pleased to have completed the sale of these retail parks to Tewox. This transaction reflects attractive investment opportunities within the Polish retail market. We believe that Tewox, with its commitment to sustainability and strong tenant mix, will continue to enhance the value and success of these properties. We look forward to seeing these retail parks thrive under their management and we will be supporting Tewox team by our property management services,” commented Anna Tomaszewska, Head of Investments at Capital Park Group.
For this transaction, Tewox partnered with mBank as its financial sponsor and Norton Rose Fulbright for legal counsel.
With this acquisition, Tewox’s real estate assets under management in Poland now total more than €90 million. The company previously expanded its Polish portfolio with the purchase of Retail Park Mlyn in Wrocław from Mitiska REIM in February 2022 and retail parks in Głowno, Świdnica, Przemyśl, Kalisz, and Puławy over the past year.
