Ivanhoe Cambridge has purchased an additional 65.52% stake in the Central European Retail Property Fund (CERPF), the owner of the Wola Park shopping center in Warsaw. The company now has 91.52% of the fund's shares, and so controls the shopping center.
Ivanhoe is based in Montreal (Canada) but also has operations in the USA and Europe. As well as being a property owner, it is involved in the management and development sides of the industry. As at December 31, 2004, the market value of its assets stood at over 4.4 bln.
Wola Park Shopping & Entertainment Center, opened in September 2002. It is anchored by a 30,000 m² Auchan hypermarket, and offers 165 other shops, restaurants, a fitness club and a Silver Screen multiplex cinema.
Source: Eurobuild
