US private equity group Blackstone has added a fourth shopping centre to the portfolio of its Polish fund, King's Street Retail. The acquisition of Galeria Pestka from a private German investor was completed on 30 November.
US private equity group Blackstone has added a fourth shopping centre to the portfolio of its Polish fund, King's Street Retail. The acquisition of Galeria Pestka from a private German investor was completed on 30 November.
The investment volume was not disclosed.
The King's Street Retail portfolio now consists of Magnolia Park in Wroclaw, Galeria Twierdza in K³odzko and Galeria Twierdza in Zamoœæ - all acquired earlier this year. The fund is also to acquire Galeria Têcza in Kalisz before the end of the year.
Galeria Pestka in Poznañ has a gross leasable area of 42,000 m2 and 1,000 parking spaces. The management of Galeria Pestka is being assumed by Master Management Group, a retail space manager and developer in Poland, which is also in charge of the other King's Street malls.
