CMS has advised Union Investment Real Estate GmbH on the sale of the Magnolia Park shopping center in Wrocław to NEPI Rockcastle. The total value of the transaction was EUR 373m, making it the largest single shopping center acquisition in Central and Eastern Europe in recent years.

Magnolia Park is one of the largest and most successful shopping centers in Poland, with a total gross leasable area of 100,000 sq. m. The shopping center, located in Wrocław, currently houses 240 stores and is 99% leased. Magnolia Park is among the top 10 most dynamically developing shopping centers in Poland, serving a catchment area of approximately 1.4m consumers and consistently delivering strong performance in both visitors and sales. The shopping center holds a BREEAM sustainability certification at the level of Excellent.

Michał Mieciński, partner in the Real Estate and Construction practice, who supervised the transaction, commented: “The sale of Magnolia Park was an exceptional endeavor clearly demonstrating that the Polish retail market continues to attract key investors.”

The CMS team was supervised by partner Michał Mieciński, supported by Zuzanna Bafia and Paweł Śliwka (Real Estate and Construction), Krzysztof Sikora (Competition) and Agnieszka Górecka (IP/TMT).

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    Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With 81 offices in 45 countries across the world and more than 5,000 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets. The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate / M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate. For more information, please visit cms.law

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