Linklaters advises a leading investment management firm on the establishment of a joint venture managing portfolio of 11 shopping centres and retail parks across Poland

Linklaters has advised a leading investment firm on the establishment of Horse JV – a joint venture holding a portfolio of nine M1 shopping centres and two Power Park retail parks across Poland.

Horse JV was established as part of the reorganisation process of EPP, the largest asset manager of retail real estate located in Poland. In March 2022, EPP was delisted from the Johannesburg and Luxembourg stock exchanges, Redefine Properties acquired its controlling stake, and two joint ventures – Horse JV and Community Properties JV, were established. The combined gross asset value brought into the joint ventures has made it the largest investment in the retail sector in Poland since the outbreak of the COVID-19 pandemic.

The Linklaters Warsaw real estate team was led by Tomasz Trystuła (managing associate), supported by Marta Strykowska (associate), Bartosz Boenigk (associate), Joanna Roman (junior associate) and Michał Zaniecki (junior associate). The wider team included Piotr Zbyszyński (senior associate) from Warsaw corporate practice, Wojciech Podlasin (managing associate) and Joanna Koterbska (associate) from Warsaw antitrust and foreign investment practice, Anton Cox (counsel), Aurélie Mounier (managing associate) and Bogdan Popescu (junior associate) from Linklaters’ Luxembourg office, as well as Marleen Wessel (counsel) and Ruth van der Haar (associate) from Linklaters’ Amsterdam office. Janusz Dzianachowski (partner) supervised the transaction.