Bainbridge Portfolio

INFORMATION ABOUT THE TRANSACTION PROJECT/PROJECTS/PORTFOLIO
Aerium, the European real estate fund manager disposed of three shopping centers in Poland to Newbridge in January 2018. Located in Krakow (CH Czyżyny, opened in 2002), Torun (CH Bielawy, opened in 2002) and Lodz (CH Guliwer, opened in 1997) and totaling over 72,000 sqm of GLA each asset is anchored by Carrefour on a long term lease. Originally developed by Carrefour the schemes are 99% occupied and have sales 45% higher than the Polish national per square meter average. Other occupiers include Leroy Merlin, Rossmann, CCC, Deichmann, RTV Euro AGD, Jysk, Pepco, Douglas. Aerium acquired the properties in a pan-European portfolio in 2006 from Carrefour.
Name of the deal Bainbridge Portfolio
Information about the transaction project/projects/portfolio INFORMATION ABOUT THE TRANSACTION PROJECT/PROJECTS/PORTFOLIO
Aerium, the European real estate fund manager disposed of three shopping centers in Poland to Newbridge in January 2018. Located in Krakow (CH Czyżyny, opened in 2002), Torun (CH Bielawy, opened in 2002) and Lodz (CH Guliwer, opened in 1997) and totaling over 72,000 sqm of GLA each asset is anchored by Carrefour on a long term lease. Originally developed by Carrefour the schemes are 99% occupied and have sales 45% higher than the Polish national per square meter average. Other occupiers include Leroy Merlin, Rossmann, CCC, Deichmann, RTV Euro AGD, Jysk, Pepco, Douglas. Aerium acquired the properties in a pan-European portfolio in 2006 from Carrefour.
The date of closing the deal January 2018
Value of the transaction (in EUR) above EUR 100 mln
Yield confidential
Seller, plus brief information about the company Ærium is an independent Luxembourg-based real estate investment and asset management group that is consistently ranked in the top 100 in the European marketplace. Ærium operates across eight offices in Europe with over 90 employees combining a deep knowledge and experience with judgment and a reputation for execution and delivering to our investors. Ærium’s senior management team has worked together for over 10 years across 12 funds with investments totalling €11 billion. Aerium currently manages more than €4.3bn in commercial real estate.
Consultancy which advised Seller GVA Polska
Purchaser, plus brief information about the company Newbridge, was founded in 2015 and is a Warsaw based investment and development firm founded by Rory Mepham and the Somerston, headquartered in Jersey (Channel Islands).
Consultancy which advised Purchaser none
Financing institution Deutsche Pfandbriefbank provided Senior Debt finance.
Current occupancy level x
Please say why this deal should be considered for the award Sale of Bainbridge Portfolio was one of the biggest portfolio retail deals in Poland in 2018. This investment transaction has proven demand for dominant shopping centers and enabled Newbridge to scale up their operation in Poland significantly over last year. Bainbridge portfoilo has a potential of becoming dominant neighborhood convenient shopping center. Ongoing works on area refurbishment and extension is already in the execution stage just a few months after the acquisition. Such transaction proves that first generation shopping centers still have hidden potential to be unlocked if done in line with customers’ needs. The properties are also important for the food anchor – Carrefour which decided to implement latest supermarket layout in all three stores within Bainbridge portfolio.
Name of the deal
Bainbridge Portfolio
Information about the transaction project/projects/portfolio
INFORMATION ABOUT THE TRANSACTION PROJECT/PROJECTS/PORTFOLIO
Aerium, the European real estate fund manager disposed of three shopping centers in Poland to Newbridge in January 2018. Located in Krakow (CH Czyżyny, opened in 2002), Torun (CH Bielawy, opened in 2002) and Lodz (CH Guliwer, opened in 1997) and totaling over 72,000 sqm of GLA each asset is anchored by Carrefour on a long term lease. Originally developed by Carrefour the schemes are 99% occupied and have sales 45% higher than the Polish national per square meter average. Other occupiers include Leroy Merlin, Rossmann, CCC, Deichmann, RTV Euro AGD, Jysk, Pepco, Douglas. Aerium acquired the properties in a pan-European portfolio in 2006 from Carrefour.
The date of closing the deal
January 2018
Value of the transaction (in EUR)
above EUR 100 mln
Yield
confidential
Seller, plus brief information about the company
Ærium is an independent Luxembourg-based real estate investment and asset management group that is consistently ranked in the top 100 in the European marketplace. Ærium operates across eight offices in Europe with over 90 employees combining a deep knowledge and experience with judgment and a reputation for execution and delivering to our investors. Ærium’s senior management team has worked together for over 10 years across 12 funds with investments totalling €11 billion. Aerium currently manages more than €4.3bn in commercial real estate.
Consultancy which advised Seller
GVA Polska
Purchaser, plus brief information about the company
Newbridge, was founded in 2015 and is a Warsaw based investment and development firm founded by Rory Mepham and the Somerston, headquartered in Jersey (Channel Islands).
Consultancy which advised Purchaser
none
Financing institution
Deutsche Pfandbriefbank provided Senior Debt finance.
Current occupancy level
x
Please say why this deal should be considered for the award
Sale of Bainbridge Portfolio was one of the biggest portfolio retail deals in Poland in 2018. This investment transaction has proven demand for dominant shopping centers and enabled Newbridge to scale up their operation in Poland significantly over last year. Bainbridge portfoilo has a potential of becoming dominant neighborhood convenient shopping center. Ongoing works on area refurbishment and extension is already in the execution stage just a few months after the acquisition. Such transaction proves that first generation shopping centers still have hidden potential to be unlocked if done in line with customers’ needs. The properties are also important for the food anchor – Carrefour which decided to implement latest supermarket layout in all three stores within Bainbridge portfolio.

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