Slovenia-based investor ALFI Real Estate fund has completed the acquisition of a new retail park based in Poreč, Croatia (Galerija Poreč). The property with roughly 8,500 sqm was purchased from specialist Austrian investor MID Group. The retail park is strategically positioned in a new shopping zone near a McDonald’s restaurant and has an attractive tenant mix with everyday convenience items.
ALFI RE partners Uroš Srabotič and Maja Ostanek explained that retail parks being the best performing and most resilient retail format prior to and throughout the COVID-19 pandemic was one of the main triggers for the acquisition. The convenient locations, free parking and range of retailers offered by retail parks makes them the best answer to e-commerce and well-positioned for click and collect or returns, both of which can be reinforced by cross-selling.
This was ALFI RE's third investment in less than a year, which increased its AUM to €32 million. ALFI (ALternative Financial Investments) is a Slovenia-based manager of alternative investment funds.
Apart from the retail park in Croatia, ALFI RE has purchased a convenience retail park in Slovenia with Spar as the anchor tenant and a fully-let premium office building in the CBD of Ljubljana, Slovenia. The fund's focus is on logistics, office and convenience retail with the aim of increasing its AUM to €100 million within the following two years.
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