Tewox, managed by the Lords LB asset management company from Lithuania, has announced the acquisition of two additional retail parks in Poland from an investor, developer and asset manager Capital Park Group, situated in the cities of Lodz and Radom. This strategic investment marks Tewox’s third venture into the Polish market, bringing its total holdings to eight retail parks encompassing 55,700m2 of retail space.
The newly acquired retail parks in Lodz and Radom span nearly 10,000m2 and host around 30 tenants, with significant space allocated to prominent retailers Lidl and Jeronimo Martins.
Paulius Nevinskas, CEO of Tewox, said: “This transaction underscores our commitment to sustainability, adhering to environmental, social, and governance (ESG) criteria, which we are going to enhance at the acquired properties. Moreover, we prioritize leasing to tenants that provide a diverse range of services and activities, which is crucial for maintaining a competitive and stable income for our investors.”
"We are pleased to have completed the sale of these retail parks to Tewox. This transaction reflects attractive investment opportunities within the Polish retail market. We believe that Tewox, with its commitment to sustainability and strong tenant mix, will continue to enhance the value and success of these properties. We look forward to seeing these retail parks thrive under their management and we will be supporting Tewox team by our property management services," - commented Anna Tomaszewska, Head of Investments at Capital Park Group.
For this transaction, Tewox partnered with mBank as its financial sponsor and Norton Rose Fulbright as legal counsel.
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