In Poland, a joint venture of global alternatives giant Ares Management's $108.7 billion Ares Real Estate Group and boutique specialist Slate Asset Management is set to acquire a commercial properties portfolio, valued at over €300 million, from developer and asset manager Trei Real Estate.

The portfolio includes 36 recently developed, fully-occupied and convenience-led retail parks located across major Polish metropolitan areas, and feature CPI-linked lease agreements offering inflation protection and strong tenancy covenants. Tenants are primarily grocers, pharmacies and other essential goods providers.

Kevin Cahill, Partner and Head of European Diversified Investments at Ares Real Estate Group, noted Ares has been active in Poland for over two decades.  The latest acquisition further underlines the firm's conviction in the broader European retail sector, and highlights the opportunity for enhancements, too. "We believe the Portfolio presents significant opportunities for additional value creation and look forward to working closely with Slate to unlock its full potential," he said.

Slate is likewise an active CRE participant, having deployed $1 billion in the space for 2025, and wanted a piece of Poland. Managing Director Sven Vollenbruch said the joint buy, his firm's first in the country, is "a natural fit" for Slate's income-focused essential real estate strategy, presenting the right opportunity for entry and adding "a valuable new spoke to our growing Pan-European platform." 

Trei CEO Pepijn Morshuis said the sellers are completing the sale, due to close before year end, to further reposition their investment focus towards the US market. 

Advisors included Rymarz Zdort Maruta, CBRE, PwC and Gleeds.