Futureal Group has sold its Polish retail asset, Nova Park to a joint-venture formed by MAS Real Estate and Prime Kapital for €88.5m. Over the last four years Nova Park, located in central Gorzów in western Poland has become the largest shopping center in the region with a catchment of 370,000 people.
Nova Park opened in April 2012 as a joint investment of Caelum Development and Futureal Group. The mall with its current gross leasable area of 32,580m² accommodates 140 shop units, including 14 restaurants and a multi-level parking structure for 910 cars.
By 2014 Futureal Group gained 100% ownership in the mall and it received a building permit for a 6800m² gross leasable expansion.
Nova Park enjoys a diversified mix of high quality tenants including international and national brands such as Bershka, C&A, CCC, Douglas, Empik, H&M, Intersport, KFC, New Yorker, Pull&Bear, Sephora and Stradivarius.
“This successful acquisition is an important step in achieving our strategy to deliver sustainable growing income distributions through exposure to dominant assets in Central and Eastern Europe and Western Europe.” commented Lukas Nakos, CEO of MAS.
JLL, a global real estate services firm, provided advisory services and acted as the exclusive agent during the transaction process.
