Eurobuild Awards
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Sale of Galeria Malta Shopping Centre in Poznan

CATEGORY
Investment Deal of the Year, CEE
Sale of Galeria Malta Shopping Centre in Poznan (54 000 GLA), one of the largest shopping and entertainment centre in Poznan, to an International Financial Fund– the largest single shopping centre transaction in retail originated and completed in 2021. Galeria Malta is one of the largest shopping and entertainment center in Poznań. 54,000 sqm of retail space contains stores and service outlets of many sectors, including popular and demanded fashion brands as TK Maxx, H&M, New Yorker. The main offer of the Gallery is dominated by local and global brands from the mid-mass market. The gallery is distinguished by its location in the immediate vicinity of the recreational areas of Malta, a restaurant zone with a view of the Maltańskie Lake and a wide range of sport and entertainment activities.
Name of the deal
Sale of Galeria Malta Shopping Centre in Poznan
The date of closing the deal
September 2021
Value of the transaction (in EUR)
The value of the sale has not been disclosed
Yield
Yield has not been disclosed
Seller, plus brief information about the company
Sierra Balmain Asset Management. Sierra Balmain provides real estate services in polish 15 cities on 20 assets with a combined value of €1.3bn and 1,370 tenants. Sierra Balmain has 145 employees and 19 years of regional experience having successfully provided service to, and executed transactions with, dozens of Europe’s largest and most well-known investors. The company offers complete service: from development and transaction advisory, through retail space leasing, to property management and administration, as well as expansion – all with the goal of improving the customer experience and increasing the mall’s turnover to ultimately boost its value. Sierra Balmain is a premier services business that brings together the market-leading CEE specialist real estate asset manager and service provider, Balmain Asset Management with the highly regarded and successful international real estate company, Sonae Sierra.
Consultancy which advised Seller
Sierra Balmain Asset Management
Purchaser, plus brief information about the company
Fidera Limited - a newcomer to the Polish Market. Fidera Limited is an independent European investment management firm, based in London. It mainly focus on corporate investments, claims and special situations in Europe. Its investment philosophy centres on developing innovative and sustainable solutions to complex and process intensive situations.
Consultancy which advised Purchaser
Onyx. Onyx Asset Management is a property and asset management company focused on Poland. The company manages a portfolio of office and retail assets in Warsaw and major regional cities. Onyx principals are also investors in the assets Onyx manages.
Financing institution
N/A
Current occupancy level
Center was occupied in 70% during the transaction period.
Please say why this deal should be considered for the award
Sale of Galeria Malta was the largest single shopping centre transaction in retail originated and completed in 2021. The transaction was carried out during covid and brought a new entrant into the Polish market on the retail sector, with an all-cash transaction and a simultaneous debt workout. The transaction was closed in under 9 months from start of marketing to finish, including tax ruling.