Three malls for Newbridge

All the properties are anchored by Carrefour on long-term leases, which was also responsible for the development of the centres. The 72,000 sqm portfolio is 99 pct leased with sales per sqm that are 45 pct higher than the Polish national average. And tenants include Leroy‐Merlin, Rossmann, CCC, Deichmann, RTV Euro AGD, Jysk, Pepco, Douglas and LPP.

Rory Mepham, the managing director of Newbridge commented, “We are really excited about this acquisition and hope that this will lead to further investment opportunities.. This transaction demonstrates our ability to complete large complex transactions on an opportunistic basis and whilst we strongly believe in the Neighborhood Centre 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 its hard work.” The value of the deal has not been disclosed.

Newbridge, which was founded by Rory Mepham and the Somerston Group in 2015, now owns six shopping centres in Poland.