Focus Estate Fund has finalized the purchase of the Galeria Sandecja shopping centre in Nowy Sącz, Poland.
The 17,650 square meter center is the fund’s seventh significant investment in Poland’s thriving retail sector.
Galeria Sandecja, on Węgierska Street, features more than 70 shops, service points, and dining options, including H&M, New Yorker, Martes Sport, Douglas, Deichmann, CCC, and the only Carrefour hypermarket in the area. The shopping center has 800 parking spaces, car wash facilities and a children’s play area.
The seller of the property TK Development was represented by Colliers International and the purchase backed by Czabański & Gałuszyński, Gleeds and also KKLW.
Galeria Sandecja purchase tops 100,000 sqm GLA
Maxim Shkolnik, General Partner of Focus Estate Fund, says, “With the acquisition of Galeria Sandecja, we’re proud to announce that our total leasable area (GLA) has exceeded 100,000 square meters in Poland. We’re strategically diversifying our portfolio through targeted acquisitions of mid-sized convenience shopping centers in Poland. We’re also actively seeking opportunities in the UK, Italy, Spain, the Czech Republic, and other select countries. Furthermore, we’re also considering installing solar panels, __a _sustainability initiative we’ve implemented across our portfolio, aimed at reducing our carbon footprint. A key element of this deal was the invaluable support and partnership provided by BNP Paribas Bank Polska, our valued strategic partner in Poland.”
Elżbieta Chmielowska, Head of Real Estate Finance Bureau at BNP Paribas Bank Polska says, “We are pleased to have completed another successful transaction with Focus Estate Fund. Galeria Sandecja, is an important shopping hub in the region, we appreciate all ESG initiatives which are planned by the new management and believe their dedication will take it to new heights. We hope we will continue to develop our partnership.”
Focus Estate Fund is a private equity real estate investment fund focusing on non-prime value-added retail properties. Its strategy is to invest in the existing mid-market convenience retail properties in Europe’s most dynamic markets.