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PBW II fund buys Polish shopping centre for €85m

PBW II Real Estate Fund has forward purchased a shopping centre in Poznan, Poland for €85m (£57m).

The vendor was Walther Beheer BV, a property development subsidiary of Moebel Walther AG of Germany.

Anchor tenants include Carrefour, Saturn, Praktiker and C&A.

Artur Mokrzycki, managing director central Europe at IXIS AEW Europe, said: “Poznan is a dynamic city showing strong economic growth.

“The site occupies an extremely attractive location and is part of the largest retail concentration within the city. It is highly visible with very good access by car and public transport.

“Galeria Pestka is the first acquisition of this fund, and we are actively discussing further investments in the retail and office sectors, not only in Poland, but also in Hungary, the Czech Republic and Romania.”

PBW II Real Estate Fund is the follow-on fund to the core-plus Central European closed-end PBW I Real Estate Fund with an existing portfolio of more than €600m (£401m) assets, located in Budapest, Warsaw and Prague.

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