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Valad Europe trades Krokus Shopping Centre in Kraków

Valad Europe, the leading diversified real estate investment manager, has completed the sale of the Krokus Shopping Centre in Krakow from the Valad Polish Retail Fund (VPRF).

Krokus Shopping Centre opened in 1997 and was the first shopping centre in Kraków. It has a floor space of 28,000 sq m, including 55 shops and boutiques and a parking area with 1,100 spaces. The Krokus Centre, together with the nearby Aqua Park, Toys’R’Us store, Multikino stand-alone cinema unit, Obi DIY and Norauto car centre, is considered to be among the most attractive commercial areas in Kraków. Krokus Shopping Centre has twice been awarded a level of “Very Good” by the BREEAM In-Use certificate.

VPRF is a closed ended fund comprising five first generation shopping centres and three hypermarkets, totalling 250,000 sq m, located in seven of Poland's key cities including Warsaw and Wroclaw.

Valad Europe manages €4.7 billion of real estate assets and investment capacity across its 24 funds and mandates in Europe. With a team of 30 in Central Europe, Valad manages approximately €830 million of assets comprising 700 tenants, occupying 960,000 sq m of space across Poland, Czech Republic, Hungary and Romania.

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