Linklaters advises Chariot Group on the sale of M1 Marki shopping centre to Redefine Europe

Linklaters has advised Chariot Group, an investment platform managed by Griffin Real Estate on behalf of an investment consortium, on the sale of M1 Marki shopping centre to Redefine Europe – a wholly-owned subsidiary of Redefine Properties Limited, a Real Estate Investment Trust (REIT) listed on the Johannesburg Stock Exchange. The value of the deal is undisclosed.

M1 Marki is a 44 thousand sqm prospering shopping centre with two retail buildings and a diverse tenant mix. Located in the northeast of Warsaw, the facility has both large-format shops and service outlets with anchor tenants such as home improvement supplies store OBI and hypermarket Auchan. The latter, a long-standing partner of Chariot, has extended its lease last year, signing a multi-year contract.

The centre has been equipped with eco solutions that are aimed to improve people’s health and wellbeing, as well as energy and water efficiency. Its environmental consciousness has been proved by BREEAM certification. In 2019, it was awarded BREEAM In-Use certificates in two categories: “Asset Performance” Excellent and “Building Management” Outstanding, as one of few retail assets in Poland to receive such a high score.

The centre was revaluated through another assessment process also in October, this year, maintaining its previous outcomes. The Linklaters Warsaw real estate team was led by Tomasz Trystuła (managing associate), supported by Bartosz Boenigk (associate). The wider team included Christopher Quinn (counsel) and Jakub Woźniak (senior associate) from Warsaw corporate practice, Marleen Wessel (counsel), Tom Reker (managing associate) and Ruth van der Haar (associate) from Linklaters’ Amsterdam office.