Meyer Bergman sells Galeria Katowicka to EPF for €300m

Meyer Bergman, the pan-European retail-led property investment company, has sold the Polish shopping centre Galeria Katowicka to Malaysian pension fund EPF for about €300 mln, PropertyEU can reveal.

The deal was reported as pending by EuroProperty, part of the PropertyEU group.

Meyer Bergman declined to comment when contacted by PropertyEU about the rumoured sale. EPF has not issued a statement either about the acquisition. However, PropertyEU has established that the transaction has now completed.

Meyer Bergman appointed JLL to sell the 47,500 m2, three-level retail scheme a year ago, 14 months after taking full ownership.

Located in Katowice, Silesia, south-west Poland, the centre opened in 2013 and has around 200 tenants. It was developed by Meyer Bergman in a joint venture with Neinver and Poland’s state railway company PKP, as part of a wider regeneration of Katowice’s train station and bus terminal.

Brands trading at the scheme include C&A, Douglas, Peek & Cloppenburg, TK Maxx and Zara.

Savills Investment Management structured the transaction on behalf of Employees’ Pension Fund, EuroProperty said.

Last month, EPF bought two logistics assets in the Netherlands, in Rotterdam and Moerdijk, also via Savills IM. It was the pension fund’s second Dutch logistics acquisition.

In January EPF revealed it would be acquiring the first phases of development at Battersea Power Station in London – including 40,000 m2 prelet to Apple – alongside Permodalan Nasional Berhad in a £1.6 bn (€1.79 bn) deal with the project’s Malaysian developer.

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This article first appeared in EuroProperty, a PropertyEU weekly publication