Private equity real estate firm Quinlan Private has sold a shopping center in Poland it co-owned with Norwegian business conglomerate the Borgestad Group for €128 million.
The Forum Shopping Centre, located in Gilwice, Poland, was sold to German investment company Deka Immobilien. Forum was developed Borgestad by Quinlan Private Golub and Danish developer Braaten & Pedersen and opened in June 2007.
The complex has approximately 462,000 square feet (43,000 square meters) of retail space divided into 132 units, along with 1,000 car parking spaces. Tenants include a Carrefour hypermarket and the first 15 screen multi-screen cinema in Gliwice. Other stores located in the center include H&M, New Yorker, Benetton and Zara. According to Quinlan, Forum is currently over 90 percent leased with the remaining space at an advanced stage of lease negotiation.
Gliwice, a city of 2.3 million people located in the Upper Silesia region of Poland, is quickly developing as one of Poland’s key economic areas.
Quinlan Private Golub will be retained by Deka Immobilien to manage the Forum Shopping Centre.
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