Simon Ivanhoe sells part of Polish portfolio to Macquarie CountryWide Trust
8 Jul, 2007, Warsaw
Advised by the Polish office of global real estate consultant Cushman & Wakefield, Simon Ivanhoe signed the final agreement on 3 July for the sale of a real estate portfolio of five shopping centres in Poland to Macquarie CountryWide Trust.
The shopping centres, located across Poland, are as follows: Zakopianka in Kraków, Turzyn in Szczecin, Borek in Wrocław, Dąbrówka in Katowice and Arena in Gliwice. The properties were purchased for a total €232mn. They offer a total gross lettable area of 64,300 sq m.
Michael Atwell, Partner and Head of Warsaw's Capital Markets Group of Cushman & Wakefield, commented, "The disposal of the Simon Ivanhoe portfolio is the biggest investment transaction on the Polish market so far in 2007. It was an exceptional retail investment opportunity – with a strong mix of international and domestic tenants, high occupancy and good rent collection."