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Galeria Dominikańska

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The Challenge

Cushman & Wakefield were instructed on behalf of Atrium European Real Estate to represent them in the acquisition of Galeria Dominikańska Shopping Centre. Galeria Dominikańska is the number one shopping centre in Wrocław. It has approximately 32,900 sqm of gross lettable area spread over three levels and across 102 units, as well as a gym let to AM Fitness Club and approximately 1,250 sqm of office space. The centre is 100% let to well-known international and national brands with a focus on fashion. Retailers include Zara, Bershka, Pull & Bear, Stradivarius, Carrefour, Media Markt, Van Graaf, C&A and Reserved. The centre was opened in 2001 and refurbished and extensively re-let in 2011, successfully strengthening the tenant mix. Galeria Dominikańska is located at the heart of the city, on 3 Dominikański square, next to the historic Old Town.

The Solution

Cushman & Wakefield guided Atrium through the acquisition process conducting commercial due diligence of the property, providing professional market advice and preparing detailed cash flows as well as broker’s opinion of value. We regularly reported to the purchaser on the status of the process, and participated in negotiations through all stages of the transaction.

The Results

Based on C&W's professional advice and market knowledge the investor successfully completed the acquisition investigation and negotiations. Atrium completed the EUR 151.7 million acquisition of Galeria Dominikańska from a JV comprising the Otto Family and Deutsche EuroShop AG in Q3 2013.