Union Investment has added the Sarni Stok shopping centre to its UII Shopping Nr. 1 retail property fund. The deal marks the second retail acquisition for the fund and its first transaction on Poland’s regional retail market. The seller is CBRE Global Investors. The value of the transaction was not disclosed.
Delivered in 2001 in the Polish town of Bielsko-Biała, Sarni Stok offers 31,243 sqm of space in 73 units. CBRE Property Fund Central Europe took over the asset in 2006 and undertook an in-depth refurbishment and the extension to the center in 2012.
“Sarni Stok is an established shopping centre with a diverse tenant mix located in a metropolitan area with above average purchasing power, making it an excellent fit for our thematic fund,” said Dr. Christoph Schumacher, a member of the management team at Union Investment Institutional Property GmbH, Hamburg.
