This acquisition has enabled Sonae Sierra to enter the Polish market and create conditions for facilitating significant expansion opportunities into other CEE markets for the new Sierra Balmain joint venture entity.
This joint venture will initially be focused on the continued expansion of the existing services of Balmain’s Polish portfolio, which already comprises a total of 15 shopping centers in 15 different cities in the country. Sierra Balmainwill combine Sonae Sierra’s international experience in retail real estate with the extensive local market knowledge of the Balmain team, which will retain management of the day-to-day business.
“We are delighted and excited to be in this partnership with Sonae Sierra. From the outset of the discussions, we have sensed operational synergies and a like-minded approach to creating innovative environments for our clients’ real estate investments. The combined knowledge, resources, and capability of Sierra Balmain will bring a new perspective to Poland and the region in the areas in which we operate,” said James Turner, Balmain Group Managing Director (photo).