WARSAW – 20 December 2022 –Greenberg Traurig Warsaw advised Multi Veste 339 B.V, an entity owned by funds managed by Blackstone, on the sale of the Forum Gdańsk shopping center situated in the Polish Tricity to NEPI Rockcastle.
The shopping center, which was opened in 2018 in Gdańsk, has a total area of 63,500 sqm GLA offers 1,100 parking places and is located between the old town and downtown and the city’s two main railway stations.
The transaction is valued at EUR 250 million, which makes it one of the largest single asset shopping center investment transactions by value in Europe in 2022.
The Greenberg Traurig team was co-led by Managing Partner and Head of Real Estate Jolanta Nowakowska-Zimoch and Senior Associate Aleksandra Kaczmarek, who were supported by Associate Jakub Gajzler. Local Partner Maciej Kacymirow advised on the tax aspects of the transaction and Associates: Iga Czerniak and Krzysztof Wiśniewski were responsible for the financing aspects of the sale.
“I believe that this transaction has the potential to become a spark for the retail sector in Poland, underlining this market’s attractiveness for subsequent investors interested in the CEE region. Our team is proud to have had the opportunity to advise our Client on such a significant project and one of the largest transactions from this sector executed recently in Europe,” said Jolanta Nowakowska-Zimoch, Managing Partner of Greenberg Traurig in Poland.
Blackstone is the world’s largest alternative asset manager investing capital on behalf of pension funds, large institutions and individuals.
NEPI Rockcastle is the largest listed developer, owner and manager of shopping centers by GLA in Central and Eastern Europe.