Arcona Capital acquires 3 more Polish shopping centres

The acquisition increases the number of the Fund’s assets to 25 with a total value of €83.7 million. As a result of the transaction, the new Polish assets will make up 34% of the Fund’s portfolio, with the majority of 46.5% located in Slovakia and 19.5% in the Czech Republic. About 49% of the portfolio comprises office properties, followed by 35% of retail and 16% of other assets, mainly student accommodation. The occupancy rate within the Fund has risen from 78.2 to 82.6%.

Arcona Capital is targeting an annual return of 8% for the Fund, growing its total asset value to €500 million by adding another 30 to 50 assets over the next three to five years. The Fund is planning an allocation of €200 million in Poland, €100 million in the Czech Republic, €50 million in Slovakia and €150 million in other Central and Southeastern European markets, including Romania, Bulgaria, Serbia, Croatia and Hungary.