Future Estate has purchased the Galardia Shopping Center in the city of Starachowice, in Central Poland, from developers Stage Capital and Sierra Balmain.
The agreement finalizing the transaction was signed on September 26, 2024, and financial details were not disclosed.
The Galardia shopping and entertainment center, which opened its doors in October 2014, offers approximately 18,000 square meters of gross leasing area. Customers can visit over 50 stores and service points from Polish and international brands such as Reserved, Carry, Media Expert, Jysk, Rossmann, Smyk, Martes Sport, Empik, CCC, Mohito, House, Cropp, Sinsay, Pepco, Deichmann, and Ochnik, as well as the first multi-screen Helios cinema in the region, with four screens for over 600 viewers.
At the time of the construction of the facility, the property was co-owned by Stage Capital, a European financial investor focusing on commercial real estate in Central and Eastern Europe, and Sierra Balmain, which played a key role in the center’s development, providing expertise to Stage Capital in design, construction and leasing. Since 2014, Sierra Balmain has been responsible for all aspects of asset and property management and leasing activities, positioning the center as a leading retail destination in the local market. The center opened with 98% of its space leased and achieved full occupancy in the following years.
The Wolf Theiss law firm advised Stage Capital on the deal.
Image source: echodnia.eu