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Report: Meyer Bergman sells Polish retail asset to Malaysian fund for €300M

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Report: Meyer Bergman sells Polish retail asset to Malaysian fund for €300M

Pan-European retail-led property investment company Meyer Bergman completed the sale of the Galeria Katowicka shopping center in Katowice, Poland, to Malaysia's Employees' Pension Fund for about €300 million, PropertyEU reported, citing EuroProperty.

The asset stands three levels tall and covers 47,500 square meters. Meyer engaged JLL to market the center one year prior, after holding the asset in full for a 14-month period, according to the paper, which noted that the deal's completion is confirmed.

A partnership between Meyer, Neinver and Poland's state railway company PKP developed the Galeria Katowicka and launched it in 2013. The retail scheme houses 200 tenants, including C&A, Douglas, Peek & Cloppenburg, TK Maxx and Zara.

The buyer did not come forward with an announcement regarding the trade, while Meyer declined to comment, according to the report. Savills Investment Management acted on behalf of the fund during the deal, the March 14 article noted.