Shares of Galeria Katowicka to buy

The Polish State Railways (PKP S.A.) announced today to sell shares of Galeria Katowicka. PKP was the partner of Neinver in the investment process at Szewczyka Sq. and now is going to exit the project.

The Polish State Railways announced the decision officially on Monday during a press conference in Warsaw.

PKP and Neinver joined forces in 2009 after two years of negotiations and administrative procedures to choose an investor of the redevelopment process of the Railway Station’s hall and surrounding areas at Szewczyka Sq. In brief – PKP was the properties owner, Neinver was responsible for financing and management of the undertaking.

The leading partner and majority shareholder of Galeria Katowicka is Meyer Bergman, the European retail specialist real estate investment management firm, which joined the project in November 2010. In October 2012, the company increases its holding in the shopping center to over 70%. Neinver was responsible for the development and is now involved with the management of the asset after opening. At present, PKP owns 18,6% of the Galeria Katowicka shares.

Anchor tenants of the shopping center are: Stokrotka, RTV Euro AGD, KappAhl, Super-Pharm, C&A, Reserved, Zara, Rossmann, Peek & Cloppenburg, Multikino. The mall is over 90 percent let.

Polish State Railways manages over two thousand stations across Poland and owns one hundred thousand plots. In 2015, PKP will operate 10 premium stations (including Katowice) and the number of modernized stations is predicted to reach 80.

Last year, PKP sold 316 properties worth PLN 203 million. One of the properties was the DOKP building located in the heart of Katowice at 1 Roździeńskiego Av. The facility was acquired by TDJ Estate for PLN 29 million.