CBRE announced that it acted as adviser of Charter Hall Group in the disposal of its Polish retail portfolio to Tristan Capital Partners.
The transaction involved the disposal of five retail projects in Poland totaling 66,300 m² the Borek shopping center in Wroclaw (developed in 1999), the Turzyn retail gallery in Szczecin (developed in 2001), the Dabrowka shopping center in Katowice (developed in 1999), the Zakopianka retail park in Krakow (developed in 1998) and the Arena retail park in Gliwice (developed in 2006).
Mike Atwell, Senior Director – Head of CEE Capital Markets at CBRE, said:
“The sale of the Charter Hall portfolio to Tristan Capital Partners is a strong indication of Poland's continuing popularity as a key target market for international investors. The geographical spread of these 5 assets in some of Poland's major cities confirms that there is still strong institutional investor demand on a regional basis. Each of these centers can demonstrate good growth opportunities through active management and will continue to trade well in the future, giving a secure return on the investment. The core markets are naturally performing well but this transaction clearly shows that the core-plus/opportunistic market is still alive and performing well."