Savills advises Echo Polska Properties in the acquisition of Zakopianka

20 December 2016

Savills has advised Echo Polska Properties in the acquisition of Zakopianka Shopping Centre in Cracow for EUR 54 million. The vendor is European Property Investors Special Opportunities 3 (EPISO3), fund advised by real estate investment manager Tristan Capital Partners.

The subject of the transaction is the 27,463 sq. m shopping centre located in southern Krakow. The transaction excludes the Carrefour hypermarket and Castorama store, which border the shopping centre and are separately owned.

Karol Bartos, Executive Director at Tristan Capital Partners, said: “this property is in an affluent part of Krakow and is trading well. We have strengthened its performance over the past few years and improved the tenant mix. The offer from Echo Polska Properties now provides us with an opportunity to crystallise value for the fund’s investors.”

Zakopianka Shopping Centre was part of a five-property portfolio acquired in 2013 by EPISO 3 property found from Charter Hall Retail REIT. The sale of the property is scheduled for completion in the second quarter of 2017.

 
 

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