Sale of Galeria Kazimierz, Cracow, Poland

Award:

Investment Deal of the Year, CEE

Name of deal:

Sale of Galeria Kazimierz, Cracow, Poland

Value of the transaction (in EUR):

180 million total (90 million attributable to GTC's 50% stake)


Yield:

EUR 50 million

Seller, plus brief information about the company:


GTC developed 47 office buildings and 12 shopping malls with a total net space of over 1 mil sq m. The company currently manages 28 commercial property projects with a total space of 589,000 sq m.

Consultancy which advised Seller:

--


Purchaser, plus brief information about the company:


IREEF - Galeria Kazimierz PropCo Sp. z o.o., part of the Invesco Group. Invesco Group, was founded in 2002. It is a $40 + million private equity alternative investment group

Consultancy which advised Purchaser:

--


Financing institution:

--

Why this deal should be considered for the award:







Galeria Kazimierz shopping mall is located in the historic centre of Krakow, by Podgórska street. While being one of the most popular shopping centers in city and its metropolitan area, the mall offers almost 40,000 square metres of leasable space. Galeria Kazimierz anchor tenants include companies such as: Alma, Cinema City, EMPiK and Reserved. The transaction price of 180 million euro for the 100% stake in Galeria Kazimierz reflected the demand for such prime asset and highlighted this sale as one of the most impactful in that year.



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