Poznan’s success story continues Europa Capital, on behalf of Europa Fund III and together with its joint-venture partners TriGranit Development Corporation (TriGranit) and PKP (Polish State Railways), has successfully sold Poznan City Center. The recently opened award winning 58,000 m² GLA (164,000 m² GBA) shopping center was purchased by Resolution Real Estate Fund IV and ECE Prime European Shopping Centre Fund.
The TriGranit-developed shopping center opened for trading in October 2013, less than two years after the start of its construction. It incorporates a new bus terminal and railway station, creating a central transport hub for the benefit of Poznan residents and visitors alike.
Since its opening, the new shopping center has welcomed nearly 5 million visitors in just over four months, an average of more than 40,000 people per day.
The center’s retail and leisure offer encompasses 230 units, with key tenants such as the Inditex brands, Saturn, Sportsdirect, Toys "R" Us, TK Maxx and H&M, just to mention a few.
The project has received numerous international awards: European Property Awards - 5 star award for Best Mixed-Use Development in Poland and highly commended for Best Retail Development; EuropaProperty CEE Green Building Awards - Project of the Year, Mixed-use Project of the Year, and Retail Project of the Year; CEE Retail Real Estate Awards – Retail Project of the Year.
TriGranit was chosen by PKP to revitalize and renew Poznan’s main railway station in 2007, following a competitive tender process with several other real estate development companies. In February 2012, Europa Capital became TriGranit’s joint venture partner for this Public Private Partnership project where PKP contributed the land and the Europa Capital -TriGranit joint venture contributed the necessary financial capital and expertise to see this phase through to completion. The development was financed by a consortium of banks including Bank Zachodni WBK, Nordea, BRE Bank, Raiffaisen and Hypo Noe.
Europa Capital has been involved in approximately €1 billion of European real estate transactions over the last twelve months, including significant disposals for Europa Fund III, which was raised in 2007 and 2008 with €731 million of equity commitments from international investors.
About Poznan City Center:
- 230 retail units
- 164,000 square meters GBA
- 385 million Euros investment (including tenants’ investments)
- PKS coach terminal with 19 bus platforms
- Three-story park & ride facility for public transport commuters accommodating 1,500
- The passenger traffic from the railway station alone amounts to over 17 million annually
- The coach terminal attracts 7 million passengers annually
- 2.5 km new road network in the transportation junction
- Close vicinity to Poznan’s International Trade Fair, and to the city’s 25 educational
facilities, including schools and universities
Source : TriGranit