RockCastle Global Real Estate Company Ltd and BlackRock Real Estate have officially signed the final sales agreement for the acquisition of the Karolinka and Pogoria shopping centres in Poland, both sold by BlackRock Real Estate for a total of €220.8m. The preliminary sales agreement was signed in August 2015.
Karolinka is the dominant mall in the region and one of the 10 largest shopping centres in Poland, comprising a total lettable area of approximately 70,000m². Situated near the Czech border, the centre benefits from its proximity to the large towns of Wroclaw and Katowice. Conveniently located only 5km from the Opole city centre, Karolinka is positioned on one of the city’s main thoroughfares in the expanding suburban areas. The shopping centre and retail park are anchored by an Auchan hypermarket, Leroy Merlin, Decathlon and contains numerous fashion brands such as Carry, CCC, Deichmann, H&M, New Yorker, Reserved, TK Maxx, Pull & Bear and Sinsay.
Pogoria was the first retail and shopping centre in Dabrowa Gornicza, with a total lettable area of approx. 36,000m². The centre has a catchment area of approximately 350,000 people. Pogoria has a leisure and entertainment area including a five-screen Helios multiplex cinema and seven food court restaurants including KFC and McDonalds.
The Hogan Lovells Real Estate Team advised both RockCastle Global Real Estate Company Limited and BlackRock Real Estate on the acquisition. Rock Castle Global Real Estate was represented by the Hogan Lovells Warsaw office.
"We are honoured that we could support RockCastle Global Real Estate on the acquisition of such magnificent landmarks as the Karolinka and Pogoria; and were understandably pleased that RockCastle Global Real Estate chose Hogan Lovells to be their legal advisor for this significant transaction" commented Jolanta Nowakowska-Zimoch, the partner supervising the real estate practice in the Warsaw office of Hogan Lovells."
