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Union Investment retail assets managed by Cushman and Wakefield

Sarni Stok
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Cushman & Wakefield, a global real estate advisor, is now a Property Manager of Union Investment’s two retail properties in Poland: Sarni Stok and Ferio Konin shopping centres.

Cushman & Wakefield has been the Property Manager of Sarni Stok in Bielsko-Biała (southern Poland) since 2006. Union Investment decided to retain Cushman & Wakefield’s services after acquiring the property in 2015. Sarni Stok offers over 30,000 sq m of retail space and an attractive tenant mix, including Carrefour, Media Markt, TK Maxx, H&M, New Yorker, JULA, Reserved, Empik, Smyk and Rossmann.

In April 2016 Union Investment became the new owner of Ferio Konin, the dominant shopping centre in the region attracting a catchment of over 300,000 in and around the city of Konin (central Poland). It is fully leased, with an international tenant mix providing the full retail spectrum, anchored by fashion, supermarket, DIY, electronics and sports operators on ca. 40,000 sq m. After the acquisition of Ferio Konin by Union Investment, the new owner signed an asset services agreement with Cushman & Wakefield, the previous Property Manager of the centre.

Union Investment Real Estate GmbH and Union Investment Institutional Property GmbH are international investment manager for real estate with assets under management of EUR 28.5 billion in 24 countries and 10 real estate funds. Private investors account for EUR 23.7 billion across three retail funds. Currently Union Investment’s institutional business comprises two institutional funds and five special funds with a total volume of EUR 4.8 billion.

“We are delighted to be working with Union Investment as Property Manager of their Polish retail assets. The client has been fully satisfied with our cooperation in Sarni Stok and decided to retain our Asset Services team on the Ferio Konin project as well. We look forward to working together on this and possibly other ventures in the future,” added Joanna Kłusek, Director, Retail Asset Services at Cushman & Wakefield.