Simon Ivanhoe sells part of its Polish real estate portfolio (PL/AU)

Turzyn shopping center in Szczecin.

Advised by the Polish office of global real estate consultant Cushman & Wakefield, Simon Ivanhoe signed the final agreement on 3 July for the sale of a real estate portfolio of five shopping centers in Poland to the Australian Listed Property Trust Macquarie CountryWide Trust.

D¹brówka shopping center in Katowice.

The shopping centers, located across Poland, are as follows: Zakopianka in Kraków, Turzyn in Szczecin, Borek in Wroclaw, Dabrówka in Katowice and Arena in Gliwice. The properties were purchased for the total amount of €232 million. They offer a total gross lettable area of 64,300 m².

Michael Atwell, Partner and Head of Warsaw's Capital Markets Group of Cushman & Wakefield, commented, "The disposal of the Simon Ivanhoe portfolio is the biggest investment transaction on the Polish market so far in 2007. It was an exceptional retail investment opportunity – with a strong mix of international and domestic tenants, high occupancy and good rent collection."

Source: Cushman & Wakefield

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