Turawa Park in Opole, Poland. Credit: Focus Estate Fund.
Investment | Opinion | Ticker

Focus buys Turawa Park shopping center in Poland

Ukrainian real estate investor Focus Estate Fund has acquired the Turawa Park shopping center in Opole, southern Poland, from Edinburgh-based Abrdn for an undisclosed sum.

Turawa Park was completed by developer Helical Poland in 2010 for its investor Standard Life. It is a multi-format shopping center with more than 60 stores, including a gallery with an area of 18,031 sq m, a retail park (8,040 sq m), a DIY-format store area (9,067 sq m), and 1,320 parking spaces. At the time of the acquisition, the total vacancy rate was 29%. Tenants include Carrefour, Reserved, Sinsay, Media Expert, Action, Smyk, Rossmann, Big Star, C&A, Pepco, Levi’s, Sephora and Deichmann. The total vacancy rate is 29 pct.

“This is our fourth asset in Poland and we plan to continue scaling our portfolio in the Polish market, where we have been present for more than five years. We see good prospects within the value-add retail segment that we operate in–in particular with a focus on non-prime retail parks and convenience shopping centers, which have proved to be one of the most resilient classes during the pandemic,” says Maxim Shkolnick, the general partner of the Focus Estate Fund.

Tags: , ,

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

Belgrade Fashion Week Teams up with Belgrade’s Top Shopping Centers

During the May MPC shopping centers in Belgrade hosted a wide range of fashion events in cooperation with Belgrade Fashion Week.

NEINVER begins works on “Alpes The Style Outlets”

Alpes The Style Outlets will be NEINVER’s second outlet center in France and marks the company’s 17th outlet centre across 6 European countries. The scheme boasts an exceptional location near the Swiss border. Brands such as Adidas, Guess and Levi’s have already confirmed their presence.

“CREATING VALUE IN EVERYTHING WE ARE DOING”

Consumer behaviors and the business environment are changing fast under the global circumstances. Therefore, it is critical for real estate development companies to keep a pulse on both. The consumer is today at the heart of business more than ever before, say Jovana Cvetković and Nemanja Bućinac from MPC Properties.

Top 20 Store Openings to Watch in April 2022

Shopingy Mall Analyser and ACROSS Magazine present the top 20 store openings to watch on a monthly basis. Find here the exclusive data for April 2022.

The s.Oliver fashion brand has arrived in Belgrade

s.Oliver chose MPC Properties shopping centers network, UŠĆE Shopping Center, BEO Shopping Center and Delta City, to enter the Serbian market.

Atrium Promenada refurbishment is well underway

Over 80% of the redevelopment of Atrium Promenada in Warsaw is now pre-leased. Upon completion, the refurbished flagship will house over 150 retail and service units in the latest concepts. The completion of the renovation is scheduled to open in the second quarter of 2023.