Publications

Cromwell sells Polish retail portfolio for €285m
Transactions - MAY 16, 2024

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Cromwell sells Polish retail portfolio for €285m

by Andrea Zander

Cromwell Property Group has sold six retail centers across Poland, held by the Cromwell Polish Retail Fund (CPRF), to Star Capital Finance for €285 million ($309 million).

The portfolio totals more than 219,000 square meters (2.36 million square feet) and includes rights in six shopping centers: Janki in Warsaw, Kometa in Toruń, Korona in Wrocław, Tulipan in Łódź, Ster in Szczecin and Rondo in Bydgoszcz. The occupancy of the portfolio exceeds 95 percent, with anchor tenants including Auchan, Bi1, LPP Group, Inditex Group, CCC Group, Rossmann, RTV EURO AGD and Cinema City.

Since acquiring the portfolio in 2019, Cromwell has implemented extensive asset management initiatives across the properties, significantly improving occupancy and footfall levels. The Group will continue to act as asset manager of the shopping centers on behalf of Star Capital Finance.

Cromwell also has exercised ambitious sustainability programs at the assets, with the portfolio achiev

Forgot your username or password?