PBW II Real Estate Fund, an IXIS AEW Luxembourg fund dedicated to Central Europe, has acquired the Wola Shopping Centre in Warsaw, Poland. The 40,000-m² shopping mall includes 3,250 m² of office space, as well as 4,100 parking spaces. The investment amounted to more than €140 million.
After Galeria Pestka Shopping Centre in Poznan (Poland) and Smichov Gate (Prague), Wola Park is the third acquisition for PBW II fund since its inception eight months ago.
CB Richard Ellis has advised Ivanhoe Cambridge, a real estate subsidiary of the Caisse de dépôt et placement du Québec, the leading institutional fund manager in Canada, on the sale of Wola Park, which is one of the largest regional shopping centers in Warsaw.
The property comprises 200 shops leased to tenants such as H&M, Zara, C&A, Go Sport, KappAhl, Mango, Sephora, Levis, Reserved, Mexx and a number of other high quality brand names. It also includes the largest Auchan hypermarket in Poland (not part of the deal) with the area of 17,000 m² and a service station.
Source: Curzon Global