Linklaters advises Chariot Group on the disposal of four shopping centres in Poland

Linklaters has advised Chariot Group in relation to the EUR 224,000,000 disposal of a portfolio of four M1 shopping centres located in the Polish cities of Bytom, Częstochowa, Poznań, and Radom. The purchaser is a subsidiary of EPP N.V., a Dutch-based REIT dually listed on the Johannesburg and Luxembourg stock exchanges and the leading owner of retail properties in Poland. As a result of this deal, EPP has increased its holding by another 141,000 sqm. Griffin Real Estate was Chariot Group’s partner, rendering asset management services and played an instrumental role in the disposal process.

The transaction marks the closing of the second tranche of the commercial real estate portfolio, thanks to which EPP has now taken control of four M1 shopping centres and is currently the owner of eight m1 shopping centres in Poland.

The first stage of the transaction dates back to January 2018, and featured the acquisition of 28 shopping centres by Chariot Group and the subsequent resale of twelve properties from this portfolio to EPP. The third and final tranche of the acquisition of a wider portfolio of commercial facilities, including Power Park retail parks, is expected in June 2020.

The transaction team advising Chariot Group was led by Warsaw Real Estate senior associate Tomasz Trystula with support from managing partner Artur Kulawski, Real Estate partner Janusz Dzianachowski, Warsaw Corporate/M&A partner Marcin Schulz, London Finance & Projects partner Steve Smith, Warsaw Corporate/M&A senior associate Jakub Wozniak and Real Estate junior associate Malgorzata Szafranska.