Investment company Tewox has bought two Polish retail parks.
Investor, developer and asset manager Capital Park Group sold the parks in Łódź and Radom.
The 10,000 square meter parks host around 30 tenants, including retailers Lidl and also Jeronimo Martins.
This is the third Polish purchase by Tewox. In total, it has eight retail parks with 55,700 square meters of retail space.
Tewox is managed by the Lords LB asset management company from Lithuania.
Commitment to ESG in Polish Retail Parks
Paulius Nevinskas, CEO of Tewox, says, “This transaction underscores our commitment to sustainability, adhering to environmental, social, and governance (ESG) criteria, which we are going to enhance at the acquired properties.
“Moreover, we prioritize leasing to tenants that provide a diverse range of services and activities, which is crucial for maintaining a competitive and stable income for our investors.”
Tewox remains focused on identifying further investment opportunities within the Polish commercial real estate market.
Anna Tomaszewska, Head of Investments at Capital Park Group, says, “This transaction reflects attractive investment opportunities within the Polish retail market. We believe that Tewox, with its commitment to sustainability and strong tenant mix, will continue to enhance the value and success of these properties. We look forward to seeing these retail parks thrive under their management and we will be supporting Tewox team by our property management services.”
Finance for the deal was provided by mBank. Norton Rose Fulbright provided legal counsel.
Tewox’s real estate assets under management in Poland now total more than €90 million.
Lords LB Asset Management manages 16 real estate funds, one private equity fund, one energy and infrastructure fund and also three investment companies. The total value of assets under management of collective investment undertakings as of 31 December 2023 was €1.08 billion.
