US fund Castlelake is taking over a 55,000 sqm portfolio of nine Polish retail assets, according to local media outlets. The company refused to provide any further details but market sources are speculating that the seller is the company Cream (formerly Caleum), whose portfolio includes projects in Warsaw, Gdańks and Szczecin. Cream is said to have kept its role portfolio manager as part of the deal. Castlelake is an active investor in bad loans, which may add to its motivation in keeping the transaction’s details secret.
