CBRE sells Sarni Stok to Union Investment

Union Investment has signed and sealed a deal for another foreign investment for its retail fund UII Shopping Nr. 1.

New to the portfolio is the “Sarni Stok” shopping center, which opened in Bielsko-Biala in the Polish region of Silesia in 2001 and has over 73 retail units spread over a total area of approximately 31,243 sq m. The center was revitalized and expanded in 2012.

The seller is the CBRE Property Fund Central Europe, which is managed by CBRE Global Investors, which has owned the property since 2006.

“‘Sarni Stok’ is an established shopping center that is an excellent fit for the portfolio of our thematic fund due to its diversified tenant mix and location in a metropolitan region with above-average purchasing power,” says Christoph Schumacher, CEO of Union Investment Institutional Property GmbH in Hamburg.

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