Wolf Theiss advises Mitiska REIM on the purchase of Europa Centralna retail center in Poland

Warsaw, 3 April 2023 – Europe’s leading specialist investor in convenience real estate, comprising retail parks, urban logistics and multi-let light industrial projects, Mitiska REIM, relied on the legal expertise of Wolf Theiss Warsaw regarding the purchase of Europa Centralna retail center located in Gliwice.

Wolf Theiss advised Mitiska REIM on the purchase of Europa Centralna, a retail center covering a gross leasable area of 67,000m2 located on a 27ha land plot in Gliwice, Poland, from its current owner. The asset deal transaction was led by Anna Tomowicz, Partner, supported by Aleksandra Jach, Marcin Żak, Kamil Król and Jan Pruski. Strategic supervision was provided by Co-Managing Partner Tomasz Stasiak.

Europa Centralna is one of the largest commercial buildings in Poland and Europe and the largest retail scheme in Gliwice, encompassing a retail park with a GLA of 39,700m2 and a galleria of 27,300m2, with parking for over 2,000 cars. The exceptional location at intersection of the A1 and A4 motorways in the Upper Silesia region of southern Poland, contributes to the uniqueness of this facility. The retail park and galleria are currently anchored by DIY stores Castorama and Jula, with other tenants including JYSK, Action, Media Expert and Sports Direct, and a standalone drive-through McDonald’s restaurant.

In line with its value-add investment strategy, Mitiska REIM plans to reposition Europa Centralna as a food-anchored convenience real estate asset and improve its ESG credentials so that it can achieve a “Very Good” score on the BREEAM scale.

Wolf Theiss advised Mitiska throughout the transaction including among others, negotiating the sale agreement and repayment of the existing senior facility, and comprehensive tax advice.

“We express our gratitude for the opportunity to collaborate with Mitiska on this strategic transaction. At Wolf Theiss, we take pleasure in providing our services to top global players who seek to enhance their presence in the CEE region. Our team members have exhibited exceptional dedication and expertise, which has led to the successful completion of this project.”

Tomasz Stasiak, Co-Managing Partner, Wolf Theiss Warsaw