Focus Estate fund picks up Polish retail asset from TK

Focus Estate Fund has finalised the purchase of the Galeria Sandecja shopping centre in Nowy Sacz, Poland, for an undisclosed amount.

The seller of the property is TK Development.

Galeria Sandecja boasts over 70 shops, service points, and dining options over 17,650 m2 of space. The asset houses the only Carrefour hypermarket in the region and offers parking for 800 cars.

Maxim Shkolnik, general partner of Focus Estate Fund, said: 'With the acquisition of Galeria Sandecja, we're proud to announce that our total leasable area (GLA) has exceeded 100,000 m2 in Poland. We're strategically diversifying our portfolio through targeted acquisitions of mid-sized convenience shopping centers in Poland. We're also actively seeking opportunities in the UK, Italy, Spain, the Czech Republic, and other select countries.'

Focus Estate Fund is a private equity real estate investment fund focusing on non-prime value added retail properties. The Fund’s strategy is to invest in the existing mid-market convenience retail properties in Europe’s most dynamic markets.

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