Acquisition of three retail properties from Blackstone funds

The acquisition included 3 retail assets located in Poland: Twierdza in Kłodzko, Twierdza in Zamość and Wzorcownia in Włocławek.
Twierdza Kłodzko shopping center was opened in mid-2009 and is one of the largest employers in the Klodzko area, employing over 800 people. Twierdza shopping center has a total of 1200 parking spaces and offers 70 stores covering nearly 30,000 sqm.
Twierdza in Zamość is the only modern shopping center in the region. The facility has an area of over 23,000 sqm and free parking for 850 seats. In addition, it is the second biggest employer in Zamość, which employs more than 1000 people.
Wzorcownia shopping center (25,600 sqm) is the first and only multi-functional urban retail project in Wloclawek located in the very center of the city, in the immediate vicinity of the PKP and PKS stations. The center was established in the revitalized area of the former faience factory. It is an example of a commercial concept of sophisticated architecture, good shopping and entertainment tenant mix, and a city-center location.
All three properties are market leading retail schemes in their respective regions and all are 100% leased.
Name of the deal Acquisition of three retail properties from Blackstone funds
Information about the transaction project/projects/portfolio The acquisition included 3 retail assets located in Poland: Twierdza in Kłodzko, Twierdza in Zamość and Wzorcownia in Włocławek.
Twierdza Kłodzko shopping center was opened in mid-2009 and is one of the largest employers in the Klodzko area, employing over 800 people. Twierdza shopping center has a total of 1200 parking spaces and offers 70 stores covering nearly 30,000 sqm.
Twierdza in Zamość is the only modern shopping center in the region. The facility has an area of over 23,000 sqm and free parking for 850 seats. In addition, it is the second biggest employer in Zamość, which employs more than 1000 people.
Wzorcownia shopping center (25,600 sqm) is the first and only multi-functional urban retail project in Wloclawek located in the very center of the city, in the immediate vicinity of the PKP and PKS stations. The center was established in the revitalized area of the former faience factory. It is an example of a commercial concept of sophisticated architecture, good shopping and entertainment tenant mix, and a city-center location.
All three properties are market leading retail schemes in their respective regions and all are 100% leased.
The date of closing the deal 19 June 2017
Value of the transaction (in EUR) 141.60 million
Yield -
Seller, plus brief information about the company About the seller:
Multi is a leading owner, manager and developer of high quality shopping centres across Europe and Turkey. Multi is focused on creating, managing and improving sustainable rental income. Multi currently owns or manages a portfolio of over 130 shopping centres, factory outlets and retail parks. Multi operates in 14 countries.
About the buyer:
EPP is a Dutch dual listed real estate investment company that follows the REIT formula, investing in retail properties throughout Poland. With a current portfolio that includes 14 retail projects, 6 offices, and two retail development sites in Warsaw,our initial portfolio is highly diversified. The buildings are located in 18 cities in Poland,characterized by their strong economy and purchasing power, and ability to attract international investment interests. Our goal is to create Poland’s leading, cash-generating platform of well-performing retail and office assets that will deliver consistently high returns to our shareholders.
Consultancy which advised Seller JLL and Greenberg Traurig
Purchaser, plus brief information about the company EPP, a Dutch dual listed real estate investment company that follows the REIT formula, investing in retail properties throughout Poland. With a current portfolio that includes 6 office, 14 retail projects totalling GLA over 620,000 m² and two retail development sites in Warsaw, our initial portfolio is highly diversified. The buildings are located in 18 cities across the country, characterized by their strong economy and purchasing power, and ability to attract international investment interests. Our goal is to create Poland’s leading, cash-generating platform of well-performing retail assets that will deliver consistently high returns to our shareholders.
Consultancy which advised Purchaser Colliers International and Linklaters
Financing institution -
Current occupancy level 100%
Please say why this deal should be considered for the award The acquisition was the largest single deal on retail property market in Poland recorded in the described period and played a crucial role in consolidation of the retail market planned by EPP.
Name of the deal
Acquisition of three retail properties from Blackstone funds
Information about the transaction project/projects/portfolio
The acquisition included 3 retail assets located in Poland: Twierdza in Kłodzko, Twierdza in Zamość and Wzorcownia in Włocławek.
Twierdza Kłodzko shopping center was opened in mid-2009 and is one of the largest employers in the Klodzko area, employing over 800 people. Twierdza shopping center has a total of 1200 parking spaces and offers 70 stores covering nearly 30,000 sqm.
Twierdza in Zamość is the only modern shopping center in the region. The facility has an area of over 23,000 sqm and free parking for 850 seats. In addition, it is the second biggest employer in Zamość, which employs more than 1000 people.
Wzorcownia shopping center (25,600 sqm) is the first and only multi-functional urban retail project in Wloclawek located in the very center of the city, in the immediate vicinity of the PKP and PKS stations. The center was established in the revitalized area of the former faience factory. It is an example of a commercial concept of sophisticated architecture, good shopping and entertainment tenant mix, and a city-center location.
All three properties are market leading retail schemes in their respective regions and all are 100% leased.
The date of closing the deal
19 June 2017
Value of the transaction (in EUR)
141.60 million
Yield
-
Seller, plus brief information about the company
About the seller:
Multi is a leading owner, manager and developer of high quality shopping centres across Europe and Turkey. Multi is focused on creating, managing and improving sustainable rental income. Multi currently owns or manages a portfolio of over 130 shopping centres, factory outlets and retail parks. Multi operates in 14 countries.
About the buyer:
EPP is a Dutch dual listed real estate investment company that follows the REIT formula, investing in retail properties throughout Poland. With a current portfolio that includes 14 retail projects, 6 offices, and two retail development sites in Warsaw,our initial portfolio is highly diversified. The buildings are located in 18 cities in Poland,characterized by their strong economy and purchasing power, and ability to attract international investment interests. Our goal is to create Poland’s leading, cash-generating platform of well-performing retail and office assets that will deliver consistently high returns to our shareholders.
Consultancy which advised Seller
JLL and Greenberg Traurig
Purchaser, plus brief information about the company
EPP, a Dutch dual listed real estate investment company that follows the REIT formula, investing in retail properties throughout Poland. With a current portfolio that includes 6 office, 14 retail projects totalling GLA over 620,000 m² and two retail development sites in Warsaw, our initial portfolio is highly diversified. The buildings are located in 18 cities across the country, characterized by their strong economy and purchasing power, and ability to attract international investment interests. Our goal is to create Poland’s leading, cash-generating platform of well-performing retail assets that will deliver consistently high returns to our shareholders.
Consultancy which advised Purchaser
Colliers International and Linklaters
Financing institution
-
Current occupancy level
100%
Please say why this deal should be considered for the award
The acquisition was the largest single deal on retail property market in Poland recorded in the described period and played a crucial role in consolidation of the retail market planned by EPP.

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