Arkadia and Warszawa-Wilenska shopping galleries to have new owner
2010-02-17
Unibail-Rodamco, a French-Dutch development firm, intends to buy seven shopping galleries located in Poland and France from the Simon Property Group, an American real estate company, and Ivanhoe Cambridge, a Canadian property management company. On the Polish market, the Arkadia and Warszawa-Wilenska shopping galleries in Warsaw will be sold. The transaction is expected to be completed in the first quarter of 2010 and is thought to be worth €715m.
In addition, Unibail-Rodamco owns a 50% stake in the Galeria Mokotow shopping gallery in Warsaw. It is also a shareholder of the Zlote Tarasy shopping mall in Warsaw. In total, the company's property portfolio is worth €22.8bn.
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