Emerging-markets developer Plaza Centers has completed the sale of Suwalki Plaza shopping and entertainment centre in Poland to an unnamed investment fund for 鈧�42.3 mln.
According to Plaza Centers, the price was in line with the last reported book value. The sale was completed via a subsidiary of the company.
'Plaza successfully executed the development of Suwalki Plaza followed by its launch in May 2010 as well as the continued management of the centre,' commented Dori Keren, CEO at Plaza Centers. 'It is now a very strong and appealing retail scheme in this special location in the north-east part of Poland, producing high levels of occupancy, footfall and turnover.'
The 20,000 m2 Suwalki Plaza is the only shopping centre in the city of Suwalki, which has a population of around 75,000, situated close to the border with Lithuania. Plaza Centers said that the fully let centre has a potential catchment area of 200,000 inhabitants.
