Newbridge are delighted to announce the acquisition of a portfolio of three Neighbourhood Shopping Centers from a fund managed by Aerium. Located in Krakow, Lodz and Torun each of the properties are anchored by Carrefour on a long term lease. Originally developed by Carrefour the schemes are 99% occupied and have sales 45% higher than the Polish national per m2 average. The portfolio comprises more than 72,000m2 of retail space with occupiers including Leroy-Merlin, Rossmann, CCC, Deichmann, RTV Euro AGD, Jysk, Pepco, Douglas and LPP.
Rory Mepham, Managing Director of Newbridge commented, “We are really excited about this acquisition and hope that this will lead to further investment opportunities. Each of the properties have significant upside possibilities. This transaction demonstrates our ability to complete large complex transactions on an opportunistic basis and whilst we strongly believe in the Neighborhood Center sector we also hope to explore investments in other property sectors in 2018. We really appreciate the efforts of our advisory team and finance providers. In particular I would like to thank Greenberg Traurig, Deloitte and Arcadis who advised us on the transaction and Deutsche Pfandbriefbank who provided Senior Debt finance. I would also like to thank Apleona, who advised the Vendor, for all of their hard work.”
Newbridge now own six shopping centres in Poland. Newbridge is a Warsaw based Investment & Development firm founded by Rory Mepham and the Somerston Group in 2015.