Mitiska REIM has announced a further strengthening of its footprint in the Romanian market with the successful acquisition of the Alpha Property Development portfolio. The acquisition of the portfolio consisting of 11 income producing retail parks and 3 development opportunities was made on behalf of Mitiska REIM’s institutional fund, First Retail International 2 (FRI 2).
The existing properties are all multi-tenanted and anchored by either Lidl and/or Kaufland. The portfolio comprises a total of 55,000 sqm GLA and is fully leased to local and international brands such as Deichmann, Takko, and Pepco.
This acquisition follows the successful acquisition in January 2017 of the remaining 50% shares in the Intercora retail park portfolio in Romania. This brings Mitiska REIM’s total portfolio in Romania to 19 retail parks, with a total GLA of +/-85,000 sqm, in addition to 4 development projects.
Luc Geuten, Executive Chairman of Mitiska REIM, comments: “This transaction brings Mitiska REIM’s assets under management in Romania to in excess of €100 million.”
Mitiska REIM is a privately held specialist real estate investment and fund management firm headquartered in Brussels, Belgium. Mitiska REIM invests exclusively in the sector of retail park properties across Western and Central Eastern Europe, via value-add and (co-) development strategies.