Galeria Solna sale

Galeria Solna is the first and the largest shopping centre in Inowrocław. Galeria Solna appeals to approximately 200 thousand inhabitants within a radius of 30 km. The friendly, one-storey building makes a reference to the salt brine graduation tower from the spa Park Solankowy, one of the most emblematic buildings of the city. The gallery of ​​ over 23 500 sqm lease area includes a diversified trade offer. There is a Tesco hypermarket, cafes and food court plus many stores of the leading polish and international fashion brands among which H&M, Reserved, Mohito, New Yorker,Media Markt. There is a DIY Leroy Merlin in Galeria Solna direct neighbourhood. Over 1 000 parking places, a new roundabout and a new bicycle path provide perfect accessibilty. Galeria Solna has a BREEAM certificate indicating the ecological standard of the building. The development plot is 10 ha. The center was opened on May 8,2013.
Name of the deal Galeria Solna sale
Information about the transaction project/projects/portfolio Galeria Solna is the first and the largest shopping centre in Inowrocław. Galeria Solna appeals to approximately 200 thousand inhabitants within a radius of 30 km. The friendly, one-storey building makes a reference to the salt brine graduation tower from the spa Park Solankowy, one of the most emblematic buildings of the city. The gallery of ​​ over 23 500 sqm lease area includes a diversified trade offer. There is a Tesco hypermarket, cafes and food court plus many stores of the leading polish and international fashion brands among which H&M, Reserved, Mohito, New Yorker,Media Markt. There is a DIY Leroy Merlin in Galeria Solna direct neighbourhood. Over 1 000 parking places, a new roundabout and a new bicycle path provide perfect accessibilty. Galeria Solna has a BREEAM certificate indicating the ecological standard of the building. The development plot is 10 ha. The center was opened on May 8,2013.
The date of closing the deal July 2017
Value of the transaction (in EUR) 55,4 mio EUR
Yield lower type of the market range
Seller, plus brief information about the company ACE 1- SPV of Acteeum Central Europe and Libra Project.
ACTEEUM Central Europe established in 2009 manages the whole development cycle from market research, site selections, tenant-oriented designs, cost-efficient construction processes, balanced branch- and tenant-mixes long term center management disposal strategies and effectuation. Every design process is aimed at not only creating a dynamic integration of the scheme in the urban pattern as well as an optimization of the internal routing. Intelligent buildings and lay outs are supporting customer varieties and flows, resulting in sustainable assets.Libra Project established at the beginning of 2008 is acting as a developer of multifunctional shopping centers and leasing agent. Libra Project manages a whole development cycle. It main focus is medium size cities, economically growing with a big economical potential and cultural active.The major shareholder is Dariusz Miłek, CCC owner.
Consultancy which advised Seller JLL,Baker&McKenzie
Purchaser, plus brief information about the company Echo Polska Properties a leading Dutch real estate investment company
Currently, the company owns 9 office and 16 retail properties with a gross leasable area (GLA) totalling 636 170 square metres in major cities across Poland, the largest economy in Central Europe with the potential to double in size in coming years. EPP also owns 70% stakes in two development projects in Warsaw. Added to this is 25% development profit participation in and the right of first offer from Echo Investment to purchase 3 properties (known as ROFO projects). The ROFO projects are at various stages of construction and are set to be completed between 2016 and 2018.
In addition to organic growth of our property portfolio, significant growth opportunities are embedded by virtue of extensions, reduction in vacancy rates and arrangements regarding the ROFO projects. Shareholders stand to benefit from the returns that will emanate from high quality, modern and sizeable properties in EPP portfolio.
Consultancy which advised Purchaser Colliers, Dentons
Financing institution Pekao S.A.
Current occupancy level 100%
Please say why this deal should be considered for the award A fully leased, well managed and successful project being the first and only object in Inowrocław and its region is an example of how to build the success and how to pass it on to a new investor. The projects is an example also of an outstanding cooperation of Acteeum Central Europe and Libra Project not only responsible for the development of Galeria Solna but also for asset managment and value enhancement through the years.
Name of the deal
Galeria Solna sale
Information about the transaction project/projects/portfolio
Galeria Solna is the first and the largest shopping centre in Inowrocław. Galeria Solna appeals to approximately 200 thousand inhabitants within a radius of 30 km. The friendly, one-storey building makes a reference to the salt brine graduation tower from the spa Park Solankowy, one of the most emblematic buildings of the city. The gallery of ​​ over 23 500 sqm lease area includes a diversified trade offer. There is a Tesco hypermarket, cafes and food court plus many stores of the leading polish and international fashion brands among which H&M, Reserved, Mohito, New Yorker,Media Markt. There is a DIY Leroy Merlin in Galeria Solna direct neighbourhood. Over 1 000 parking places, a new roundabout and a new bicycle path provide perfect accessibilty. Galeria Solna has a BREEAM certificate indicating the ecological standard of the building. The development plot is 10 ha. The center was opened on May 8,2013.
The date of closing the deal
July 2017
Value of the transaction (in EUR)
55,4 mio EUR
Yield
lower type of the market range
Seller, plus brief information about the company
ACE 1- SPV of Acteeum Central Europe and Libra Project.
ACTEEUM Central Europe established in 2009 manages the whole development cycle from market research, site selections, tenant-oriented designs, cost-efficient construction processes, balanced branch- and tenant-mixes long term center management disposal strategies and effectuation. Every design process is aimed at not only creating a dynamic integration of the scheme in the urban pattern as well as an optimization of the internal routing. Intelligent buildings and lay outs are supporting customer varieties and flows, resulting in sustainable assets.Libra Project established at the beginning of 2008 is acting as a developer of multifunctional shopping centers and leasing agent. Libra Project manages a whole development cycle. It main focus is medium size cities, economically growing with a big economical potential and cultural active.The major shareholder is Dariusz Miłek, CCC owner.
Consultancy which advised Seller
JLL,Baker&McKenzie
Purchaser, plus brief information about the company
Echo Polska Properties a leading Dutch real estate investment company
Currently, the company owns 9 office and 16 retail properties with a gross leasable area (GLA) totalling 636 170 square metres in major cities across Poland, the largest economy in Central Europe with the potential to double in size in coming years. EPP also owns 70% stakes in two development projects in Warsaw. Added to this is 25% development profit participation in and the right of first offer from Echo Investment to purchase 3 properties (known as ROFO projects). The ROFO projects are at various stages of construction and are set to be completed between 2016 and 2018.
In addition to organic growth of our property portfolio, significant growth opportunities are embedded by virtue of extensions, reduction in vacancy rates and arrangements regarding the ROFO projects. Shareholders stand to benefit from the returns that will emanate from high quality, modern and sizeable properties in EPP portfolio.
Consultancy which advised Purchaser
Colliers, Dentons
Financing institution
Pekao S.A.
Current occupancy level
100%
Please say why this deal should be considered for the award
A fully leased, well managed and successful project being the first and only object in Inowrocław and its region is an example of how to build the success and how to pass it on to a new investor. The projects is an example also of an outstanding cooperation of Acteeum Central Europe and Libra Project not only responsible for the development of Galeria Solna but also for asset managment and value enhancement through the years.

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