DL Invest Group bought the center in January 2020. “At the time we obtained a significant discount due to the very difficult situation of the project, which several international consulting companies have tried unsuccessfully to restructure over the past five years. In the next 18 months, until July this year, we carried out a comprehensive renovation of the center, breathing new life into it. We made changes to its functionality and created a new tenant mix. In the approximately 25,000 sq m center, new brands have since appeared. We also expanded the food court and created zones for families with children. The entire restructuring process was carried out with DL Invest Group’s own resources“, says Dominik Leszczyński, CEO of DL Invest Group.
All the formalities related to the sale of DL City have been completed and the new owner has taken over the management of the facility.
“This transaction also represents confirmation of the still dormant potential in the retail property market. And I don’t just mean retail parks, which have been a consistently desirable asset class since the outbreak of the pandemic (and this popularity, in my opinion, will continue to grow), but also shopping centers, whose star has waned a little in recent months. We believe (and our faith has been confirmed by DL City’s buyer) that well-managed and well-tailored projects are still attractive assets in terms of investment opportunities”, sums up Leszczyński.
About DL Invest Group
DL Invest Group is one of the most dynamically developing Polish investors operating in the commercial property market. Its diversified property portfolio comprises three segments: logistics centers, office centers, and retail parks.
Carefully selected locations and well thought-out designs in architectural, functional and execution terms, at the same time maintaining strict quality requirements, are the foundation for the success of DL Invest Group, whose portfolio already includes more than 2,000,000 sq m of real estate.
The projects developed remain the property of DL Invest Group, which then manages the projects as its own assets through its internal structures. The company’s team of over a hundred specialists is able to carry out the entire investment process on its own, starting from the analysis and research of a given location, to financing, design, construction, and leasing, to effective management.