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Union Investment to buy Lodz’s Manufaktura mall


2012-07-30



Union Investment Real Estate of Germany on 27 July announced that it has agreed to acquire Manufaktura, the largest shopping mall in Poland, from a three-way consortium of French companies led by Apsys, in what is billed as one of the largest shopping centre transactions in Europe in 2012. The deal’s value will only be disclosed after its formal completion, scheduled for end 2012, but it might be as high as €400m, according to some sources.

Union Investment is acquiring 91,240 m2 of Manufaktura’s total rental space of 112,500 m2, as its DIY store and cinema will remain the property of their owner-occupiers, i.e. Leroy Merlin and Cinema City respectively.

Located in Lodz city centre, Manufaktura has nearly 20 million visitors a year, helped by its success in positioning itself as a performance venue playing host to concerts, open-air cinema screenings, art festivals and other public events, in addition to its role as a shopping and entertainment centre with more than 3,000 retail units.



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