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Focus takes Awangarda

Alex Hayes 23 July 2018

Alex Hayes

Journalist

+48 22 356 25 20
alex.hayes@eurobuildcee.com

Alexander Hayes is currently working as a journalist for Eurobuild Central & Eastern Europe magazine. Originally from the UK, he moved to Poland in 1995 and has been working in real estate for over four years. He has a BA in english literature from the University of Buckingham.

Focus takes Awangarda
Focus Real Estate has made its second Polish investment this year
POLAND Ukrainian Investor Focus Estate Fund has purchased the Galeria Awangarda mall in Bartoszyce, its second retail property acquired this year in Poland.

The total area of the centre, which was opened in April 2016, comes to 7,515 sqm with a gla of 6,126 sqm. At the time of the transaction, the vacancy rate was about 3 pct, and its main tenants now include Biedronka, Jysk, KIK, Deichmann, and ABRA.

The deal was brokered by Kyhos Real Estate with legal advice from Czabański Gałuszyński i Partnerzy. JLL has now been appointed property manager.

"We continue to follow our strategy of diversifying our investment portfolio, by acquiring properties not only in different geographical parts of Poland and the Czech Republic, but also by adding small shopping centres to retail parks,” stated Maxim Shkolnick, a partner of the Focus Estate Fund.

“We congratulate Focus Estate Fund for this new acquisition and look forward to taking on the management of Galeria Awangarda and adding it to our retail portfolio. Galeria Awangarda has an excellent location and the right anchors for convenience shopping,” stated Virginie de Baere, the head of property and asset management at JLL.

Focus Estate now owns five retail properties in Poland and the Czech Republic with a total leasable area of more than 34,000 sqm. Earlier this year Focus acquired the Eden retail park in Zgorzelec and is planning to invest more than EUR 1.5 mln in its reconstruction".


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