Sale of Riviera Center in Gdynia. The largest commercial center of Pomerania was sold for over billion zlotys. It was one of the most important transactions on the Polish retail market in 2015. The tr

Award: Investment Deal of the Year, CEE
Name of the deal: Sale of Riviera Center in Gdynia. The largest commercial center of Pomerania was sold for over billion zlotys. It was one of the most important transactions on the Polish retail market in 2015. The transaction achieved best possible market capitalization rate for regional cities of about 5,4%.
Value of the transaction (in EUR): 300 millions
Yield: 5,4%
Seller, plus brief information about the company: Fonciere Euris
Consultancy which advised Seller: Jones Lang LaSalle, Colliers International, Dentons
Purchaser, plus brief information about the company: Union Investment
Consultancy which advised Purchaser: Cushman&Wakefield, Hogan Lovells
Financing institution: own assets
Current occupancy level: 98%
Please say why this deal should be considered for the award: Acquisition of the Centrum Riviera was the largest transaction conducted recently on the retail real estate market. This centre has been very well perceived by the investment market. The transaction yield at the level of 5,4% is the unique value noted for the Polish regional cities. The centre already took a position of the prime destination scheme in the region thanks to its outstanding location, size and diversification of the offer. The centre is anchored by an Auchan hypermarket, a multiplex cinema (Helios) and proposes the most extensive fashion offer in Northern Poland with retailers such as Van Graaf, Inditex group, LPP group, C&A, H&M and many others. Riviera has collected many awards for the best retail investment in Poland. “Excellent” BREEAM in-use score has been granted for its sustainable operations. Centrum Riviera in Gdynia opened in Oct. 2013, covering over 70,000 sqm GLA with 230 units replaced the old hypermarket based scheme (21,000 sqm GLA).


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