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Delayed deals contribute to record Q1 investment

Eurobuild CEE 16 April 2018
POLAND As a result of large portfolio transactions, the first quarter of 2018 on the Polish real estate investment market closed with a record investment volume of around EUR 2.05 bln, according to figures from Savills.

Chariot Top Group, comprising PIMCO, Oaktree and Redefine, acquired a EUR 1 bln retail portfolio of M1, Auchan, Power Park and Praktiker centres and began the first stage of its resale to EPP (starting with four M1 shopping centres for EUR 358.7 mln).

The largest single-asset transaction in Q1’18 was the acquisition of the Galeria Katowicka mall in a deal estimated at nearly EUR 300 million.

Tomasz Buras, the managing director at Savills Poland says: ‘In recent months the amount of time required to finalise transactions has significantly increased, mainly due to legal and tax reasons. As a result, many transactions have been closed later than planned and thus, instead of an even more spectacular result in 2017, we have a record Q1’18“.’


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