Arcona Capital has announced that its Arcona Property Fund is on course to complete the acquisition from RECE of a portfolio of 11 neighbourhood shopping centres in Poland for €25.9 million. Arcona has already completed on eight of the centres and will complete on the other three centres by the end of the first quarter of 2017.
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.
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