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Cushman & Wakefield represented Oppenheim in € 132mn acquisition of retail properties |
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Property investment company Oppenheim
Immobilien-Kapitalanlagegesellschaft (Oppenheim) has acquired its first
retail properties in Central and Eastern Europe following the purchase
of a portfolio of two hypermarkets as well as a third hypermarket with
an adjoining shopping gallery from GE Real Estate in Poland -
represented by by Jones Lang LaSalle.
The two hypermarkets are in Gdańsk and Sosnowiec, with the adjoining
shopping galleries owned by London-headquartered property company
Dawnay, Day, and the third hypermarket, with adjoining shopping
gallery, is in Zabrze, in southern Poland.
The properties were purchased for a total €132mn. They offer a total
gross lettable area of 66,595 sq m, of which 55,259 sq m comprises
hypermarket space and 11,336 sq m is shopping gallery space. All three
hypermarkets are anchored by real,-, part of the Metro Group, one of
Europe’s largest retail companies.
Oppenheim is Germany’s leading operator of authorised open-ended funds,
and with its majority shareholder, IVG Immobilien AG, Germany’s largest
quoted property company, currently manage property assets with a total
value of €18 billion.
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Rory Houston, Oppenheim’s European Retail Director, commented, “This
acquisition forms part of Oppenheim’s continuing strategy of increasing
our retail assets under management in selective markets where we
foresee long term growth prospects and combine this with our asset
management skill base. Oppenheim’s Spezialfonds are aggressively
seeking to expand their retail portfolios across Europe and are
delighted to have formed a further relationship with GE Real Estate in
this instance.”
Michael Atwell, Partner and Head of Warsaw’s Capital Markets Group of
Cushman & Wakefield, commented, “This acquisition provides
Oppenheim with an excellent opportunity to enter the Polish retail
market and acquire a portfolio of properties offering a stable income
stream.” |
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