PE firm goes shopping

Private equity real estate investor MGPA has invested €236m in three Polish shopping centres.

The three centres were developed and managed by Mayland Real Estate, a joint venture between US bank Goldman Sachs and the Casino Group.

MGPA’s Europe Fund III paid €187m to buy two malls in the Southwest region of Silesia and has seized the opportunity to buy a third.

MGPA’s third fund is part of a larger US$5.2bn MGPA Global Fund III, which has raised US$1.3bn for the region and has already made investments in the UK, France, Italy, Greece but it remains largely uninvested.