Malaysian pension fund Employees Provident Fund (EPF) has acquired a retail mall in Poland for close to $351 million via its property arm Kwasa Europe.

The deal was completed in March, European portals PropertyEU and Eurobuild CEE had earlier reported. The deal was structured by London-based Savills Investment Management (SIM).

EPF recently confirmed the deal to Malaysian local daily The Star, saying, "The investment is expected to generate an attractive long-term yield for the investors.”

The mall is located in Katowice, about 260km from the Polish capital of Warsaw, and 70km from Krakow, the country's second-largest city. It has a gross floor area of 511,286 sq ft and offers direct access to the rail station and underground bus terminal.

Based on previous reports, Galeria Katowicka was developed in 2011 by a joint venture of real estate company Neinver, Polish railway infrastructure company PKP and property investment manager Meyer Bergman. In 2015, Meyer Bergman bought Neinver and PKP out of the venture for an undisclosed sum.

Last year, EPF through Kwasa Europe had reportedly sought the Polish government's approval to buy Galeria Katowicka from Meyer Bergman.

EPF's Polish portfolio includes Gdanski Business Centre office building and several warehouses in Warsaw. According to Eurobuild CEE, the pension fund was eyeing another two office buildings with a total gross area of about 565,000 sq ft in Gdanski Business Centre. It is not known whether the deal has been concluded.

The pension fund bought two logistics assets in Rotterdam and Moerdjik, Netherlands, via SIM, in February this year.