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TK Development is selling its share in 2 retail developments in Poland

TK Development has concluded a share sales agreement with an American company Heitman concerning share two retail properties in Poland: Galeria Tarnovia in Tarnow and a new scheme in Jelenia Góra. The company announced that the value of both investments is USD 95 million.

The agreement with Heitman stipulates that the Americans will overtake 70 percent of shares in the operating Galeria Tarnovia and in the shopping centre which is yet to be constructed in Jelenia Góra. The transaction is expected to be finalised in August this year.

Galeria Tarnovia shopping centre offers its customers an area of 16,500 sqm. The centre was launched in November 2009. The construction of the centre in Jelenia Góra is to start in 2013; it is to be commissioned in 2015. Potential tenants will be able to use around 24,000 sqm of space.

Średnia ocena

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