Focus Estate Fund investment fund (headquartered in Kyiv) has closed a deal on the acquisition of the Galeria Awangarda shopping center with a total area of 7,500 square meters in Bartoszyce (Poland), the company’s press service has said.
“With this investment, the fund increased its portfolio in the medium-sized retail real estate sector in Poland and the Czech Republic to five facilities with a total lease area of more than 34,000 square meters,” Managing Partner of Focus Estate Fund Andriy Kozyn said.
According to the report, the Galeria Awangarda shopping center was opened in April 2016, among its largest tenants are the stores Biedronka, Jysk, KIK, Deichmann, and ABRA.
According to the company, at the time of the deal, the vacancy of premises in the object was about 3%.
The press service said the transaction broker was KYHOS Real Estate s.r.o., the property manager was JLL, while legal support was provided by Czabański Gałuszyński i Partnerzy.
The company plans within two or three years to invest about EUR50 million in the development of medium-sized commercial property projects in Eastern Europe.