Sfera Shopping Center located in Bielsko Biała bought by end November 2015. Over 62.000 GLA retail Asset with hotel (operated by Qubus chain) and office component, opened into phases: in 2001(1st phase) and 2009 (2nd phase).

Name of the deal

Value of the transaction (in EUR)

n/a

Yield

n/a

Consultancy which advised Seller

Advised by JLL

Purchaser, plus brief information about the company

CBRE European Shopping Centre Fund II acquired SC Sfera by end of November 2015.
The Fund operates in Germany, Sweden, Italy, Spain and CEE market focused mainly on retail core and core + Assets with rental grow potential and with a view to benefit from higher income returns and moderate yield compression as the markets further accelerate.
ESCF II targets is to buy, manage and sell dominant shopping centers with a strong track record.
In Poland, the company has approximately €1,256 million of assets under management. With this acquisition, the portfolio consists of six shopping centers comprising more than 239, 000 sqm of GLA.

Consultancy which advised Purchaser

Advised by Cushman & Wakiefield, Linklaters (legal ) and CBRE Building Consultancy

Financing institution

Helaba Bank provided financing

Current occupancy level

c.a. 97 %

Please say why this deal should be considered for the award

The center consists of two main malls with circa 62,000 sqm of GLA with 230 retail units and 2,200 parking spaces. It is an established city centre scheme with an occupancy rate of 97.2%. It is arranged over three floors and has an attractive tenant mix including international fashion retailers H&M, C&A, New Yorker, Inditex Group with Zara, Massimo Dutti, Bershka, Pull & Bear and Stradivarius as well as brands presented only on local market e.g. Samsung, Apple Store, Max Mara Weekend, Tous, Betty Barclay, Simple. Sfera offers also a modern 24/7 Smart Gym, kidsplay Leopark and 7 screen Helios cinema. Sfera is also Anchored by 2 supermarkets, 2 electronics operator: Media Expert and Rtv Euro Agd as well as separate food court for each of the phase.
In 2015 the visitors level achieved over 12,6 millions customers and footfall is constantly growing over 2016 year.
The well commercial results achieved by Sfera as well as the potential of further growing on local market shows that the scheme was very attractive for Investors. Additionally Asset management activities plus market dynamics expected to provide yield compression opportunity and increasing value of the project in the future.