Pasaż Kępiński and Pasaż Grodziski are new retail facilities in the Falcon fund's portfolio, which were put into use by Refield at the end of 2023. Pasaż Golubsko-Dobrzyński (opened in March 2022) was the first of the package to be sold to the Falcon fund in 2022 and soon after the purchase it changed its name to OTO Park Golub-Dobrzyń. It has thus become part of the company's OTO Park brand, which is characterized by facilities with excellent locations, modern architecture based on the highest standards of sustainable and ecological construction and a comprehensive mix of tenants.
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– After Pasaż Golubsko-Dobrzyński, we are handing over to the Falcon fund two more retail parks we have built, which are not only modern facilities, but also fully commercialized by us before their construction. The tenants include the most popular retail brands, which guarantee the business success of retail parks. In accordance with our development strategy, we build facilities in county cities, carefully selecting locations with shopping potential in a given region.
Falcon is developing the OTO Park network. New shopping arcades in Kępno and Grodzisk Wielkopolski, photo: materials press releases
Cooperation with financially stable partners is part of the DNA of our business, especially in such difficult times. For the first time, we packaged the projects we sold, which was a very big challenge but also a valuable experience. I am fully convinced that we are selling Falcon, a really well-executed investment that we can be proud of together – comments Fabian Eryk Barbarowicz, president of the management board of Refield.
The transaction is an element of Falcon Investment Management's long-term development strategy, which assumes the creation of a coherent and modern network of retail parks under the OTO Park brand, consisting of dominant facilities in their region.
Falcon is developing the OTO Park network. New shopping arcades in Kępno and Grodzisk Wielkopolski, photo: materials press releases
– We not only build, but also buy commercial facilities that fit into our ambitious development plans. We focus on cooperation with business partners who are able to meet our high standards of quality and attractiveness. Refield, thanks to its experience in implementing this type of projects and professional approach at every stage of the process, is a perfect example of this. Today, we have almost 62,000 in our portfolio. modern retail space, but this value will increase significantly by the end of this year – says Piotr Piechocki, founder and president of the management board, Falcon Investment Management.
Passages tailored to market needs
Pasaż Kępiński is located in Baranów near Kępno, which offers customers 21 premises in 3 buildings on an area of 12,000 m² GLA. The tenants include the most popular retail chains, including: Lidl, Martes Sport, Rossmann, CCC, Media Expert, Dealz, Pepco, Smyk, Neonet, Sinsay, Drogeria dm, Cropp, House, KiK, Big Star, 4F, Kaes., Home&You , Apart. Drivers have access to a parking lot for approximately 400 cars. The location of the arcade was carefully selected – it is located next to the city's most important transport hub, at the intersection of national road No. 11 and the Baranów bypass.
Pasaż Grodziski, located in Grodzisk Wielkopolski, consists of 2 facilities with a total area of 6,500 m² GLA. Customers can shop in 10 retail outlets of the most popular retail brands, the offer of which has been carefully selected so that residents can shop from a wide range of products under one roof. The tenants include: Aldi, CCC, Media Expert, Drogeria dm, KiK, Big Star, Dealz, Martes Sport, Sinsay and Kaes. The location of this arcade is also attractive. It is located at ul. Fabryczna, in the vicinity of national road 32, connecting Poznań with Zielona Góra. Customers have access to a parking lot for approximately 170 cars.
The third facility from the package of purchased properties is OTO Park Golub-Dobrzyń (formerly known as Pasaż Golubsko-Dobrzyński) with an area of approx. 3,500 m² GLA, where the following brands are available to customers: Pepco, Martes Sport, Rossmann, CCC, Kaes ., Media Expert and KiK. The facility is located at ul. Sokołowska, in the vicinity of the only Biedronka chain grocery store in the city and the bus station.
All parks from the package purchased by Falcon Investment Management have been fully commercialized by Refield. Careful selection of tenants and the great location of the arcades make them attractive commercial facilities that attract crowds of satisfied customers. Refield plans 6 further investments.
Further Refield investments are planned
Refield announces further dynamic expansion on the commercial real estate market. It plans to add further retail facilities, and their size will be adapted, as in the case of the recently sold arcades, to the needs of local markets.
– In May, we started the construction of a park in Zwoleń with an area of nearly 5,000 m² GLA, which is already fully commercialized. The opening is scheduled for the end of this year. The construction of the second stage of our park in Lidzbark Warmiński is starting and is nearing the end of commercialization. Its area is nearly 4,000 m² GLA, and during the summer holidays a McDonald's restaurant will be opened, which will be located directly next to our plot. We are starting a large investment in Ciechanów with an area of 12,000 m² GLA, the opening of this arcade is planned for the third quarter of 2025. The largest planned investment is the Brama Bieszczad arcade in Sanok with an area of approx. 23,000 m² GLA. The opening is scheduled for the first half of 2026. At the same time, we are starting the commercialization of the 7,000-seat arcade in Leżajsk, the opening of which is planned for the end of next year. In Bartoszyce, we have planned a facility with an area of approximately 13,000 m² GLA, which should be launched in the fall of 2025. In total, we will build shopping arcades with an area of 60,000 m2 GLA in 2 years – emphasizes Fabian Eryk Barbarowicz and estimates that the retail park market still has great development potential, as many towns lack this type of facilities. Retail parks fit into the concept of a 15-minute city, the idea of which is to ensure that residents can have quick access to the most necessary places, especially those with an attractive and diverse commercial and service offer.
All arcades built by Refield have carefully selected locations allowing for convenient access, as well as commercialization that allows them to meet the shopping needs of local communities. This makes them attractive investment offers for businesses.
Falcon is not slowing down
Pasaż Kępiński is the third operational facility whose acquisition the fund has finalized since the beginning of this year (after Pasaż Grodziski and the Kłodzko retail park), which gives a total of almost PLN 26,000. new GLA space in the portfolio. At the same time, during this period, the fund purchased plots of land for further planned investments, implemented independently or together with partners, and also opened, together with Acteeum Group, the largest facility in its portfolio to date – OTO Park Koszalin.
– The first half of 2024 was an extremely intense time for us. Many investment processes that started in previous years have now been successfully finalized, and we are very pleased with their positive market reception. This also confirms the correctness of our chosen strategy, which assumes the construction of a stable and high-quality real estate portfolio that will be popular among customers for many years – emphasizes Piotr Piechocki.
In addition to the investments mentioned above, the fund is currently implementing projects including: in Morąg, Żagań, Tczew and Dęblin, and more will soon join this list. However, this does not exhaust Falcon's development assumptions for the coming years and the company is conducting intensive talks to secure future investments.
– We still see the development potential of the retail park market, but we are convinced that the key to the long-term success of the projects is their consistently high quality of implementation and unrivaled location. With the increasing saturation of commercial space in Poland, we attach even more importance to careful analysis of real estate before securing it. The overriding intention is the commercial success of this location for many years to come – adds the president of Falcon Investment Management.
