Focus Estate Fund has acquired Turawa Park in Poland
B2R Law, CSWP, Dentons, CMS and Gleeds advised in this transaction.
Real estate investment fund Focus Estate Fund has acquired Turawa Park shopping center (Opole, Poland) from the international investment management group abrdn for an undisclosed sum.
Turawa Park with a total area of 35,138 sqm is the fourth asset of the Fund’s portfolio in Poland.
BNP Real Estate, which operates the shopping center, brokered the deal. B2R Law, CSWP, Dentons, CMS and Gleeds advised in this transaction.
Turawa Park is a multi-format shopping center with more than 60 stores; it includes a gallery with an area of 18,031 sqm, a retail park – 8,040 sqm, a DIY-format store area – 9,067 sqm and 1,320 parking spaces. At the time of the acquisition, the total vacancy rate was 29%.
Turawa Park’s anchor tenants are such well-known brands as Carrefour, Reserved, Sinsay, Media Expert, Action, Smyk. Other tenants include Rossmann, Big Star, C&A, Pepco, Levis, Sephora, Deichmann.