CMS has advised Union Investment Real Estate GmbH on the sale of the Magnolia Park shopping centre in Wrocław to NEPI Rockcastle. The total value of the transaction was EUR 373m, making it the largest single shopping centre acquisition in Central and Eastern Europe in recent years.
Magnolia Park is one of the largest and most successful shopping centres in Poland, with a total gross leasable area of 100,000 sq. m. Located in Wrocław, it currently houses 240 stores and is 99% leased. Magnolia Park is among the top 10 most dynamically developing shopping centres in Poland, serving a catchment area of approximately 1.4m consumers and consistently delivering strong performance in both footfall and sales. The shopping centre has a BREEAM Excellent sustainability certification.
Michał Mieciński, partner in the Real Estate and Construction practice, who supervised the transaction, comments: “The sale of Magnolia Park was an exceptional deal in the CEE region, and clearly demonstrates 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).
