GE's Central & Eastern Europe arm created the joint venture in 2003 in partnership with the Heitman group. The jv owns 12 Polish retail galleries which were bought from French retailer Groupe Casino.
The move by GE follows the end of the Heitman Central European Property Partners fund 1.
As a result, GE Real Estate will assume 100% ownership of the assets comprising seven retail galleries and hypermarkets. In addition, GE Real Estate will take over the portfolio management services.
GE said the move is a show of its commitment to the Polish market. Its other assets include 14 hypermarkets that it bought in 2006 from Casino in a