Alternative asset manager Blackstone has acquired the Magnolia Park shopping centre in the Polish city of Wroclaw for about EUR 110 mln.

Opened in 2007, Magnolia Park provides 74,400 m2 of retail and entertainment space across 230 stores. The park is currently being extended by an additional 11,000 m2 in order to accommodate a Castorama market and a major fashion brand store.

Warsaw-listed investor NFI Octava and New York-based investment group Manchester Securities sold the centre to Kasama Investments, a special-purpose vehicle controlled by one of Blackstone's real estate funds.

Octava NFI and Manchester Securities Corporation owned 72% and 28% stakes in the centre's holding company, Legnicka Development.

The vendors were advised by Jones Lang LaSalle and law firms Clifford Chance and Magnusson.

Blackstone is listed in New York and had about EUR 104 bn of assets under management at end-2010.