EPISO Buys Polish Retail Property
European Property Investors Special Opportunities LP (EPISO), a fund co-advised by AEW Europe and Tristan Capital Partners, has acquired the Jantar Shopping Centre in Slupsk, Poland, for €92 million.
The 22,250-square-metre property was developed by Mayland Real Estate and completed in 2008. Mayland has agreed to develop another phase of the project, so it will be extended to 45,750 square metres by 2012. In addition to providing EPISO with development services, Mayland will also continue to provide property management for the shopping centre.
“The Jantar opportunity allowed us to purchase a core retail asset with an excellent trading history enhanced with the ability for us to fund a largely pre-let extension that, at completion, will result in the scheme becoming regionally dominant,” says Daniel Harris, inv