Blackstone has purchased the Magnolia Park shopping centre in Poland for nearly €110 million, PropertyEU reports. The Wroclaw-based mall has been acquired by a vehicle controlled by one of the alternative asset manager’s real estate funds Kasama Investments.
Warsaw-listed investor NFI Octava and New York-based investment group Manchester Securities sold the property. Both NFI and Manchester held 72% and 28% stakes in the centre’s holding company Legnicka Development, respectively. Jones Lang LaSalle and law firms Clifford Chance and Magnusson advised the sellers on the deal.
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