Warsaw—Dentons’ Real Estate team has advised Union Investment on the acquisition of Magnolia Park shopping center located in Wrocław, Poland’s fourth largest city. Sold by Blackstone for approximately €380 million, it is the latest addition to the portfolio of UniImmo: Europa, Union Investment’s real estate fund.

Magnolia Park is one of the top ten shopping centers in Poland offering a total of 100,000 sq.m. of retail space. With its 241 shops, it attracts more than 11 million visitors a year.

Following this purchase, Union Investment’s open-ended real estate funds’ portfolio consists of seven shopping centers with a total rental space of around 390,000 sq. m., with Magnolia Park being the largest mall of the portfolio in Poland.

Paweł Dębowski, Chairman of Dentons’ Europe Real Estate group, supervised the project. Partner Monika Sitowicz led the Dentons’ transactional team with the support of associate Andrzej Włoch.

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