Meyer Bergman, an investment manager specialized in urban mixed-use real estate, has sold Forum Nová Karolina shopping centre in Ostrava, Czech Republic to REICO, Česká spořitelna's real estate fund manager. Cushman & Wakefield advised Meyer Bergman on the disposal of Forum Nová Karolina.
Mark Gamble, Head of Asset Management at Meyer Bergman, said: “The Meyer Bergman and HOOPP joint venture acquired the Nová Karolina new development just prior to its opening in 2012 and we have successfully established it as the dominant regional shopping centre since. On every key metric of investment value from turnover to footfall and management of leases and the introduction of new tenant brands, we have achieved significant year-on-year growth and quality improvement in the asset. The results of this carefully implemented asset management program have now been crystallized into solid returns for our investors through the sale.”
Alexander Rafajlovič, Partner at Cushman & Wakefield’s CEE Capital Markets team commented: “The sale of Forum Nová Karolina marks an important milestone in the consolidation of the retail business as it has been one of the last opportunities for investors to acquire a relevant place in the Czech market.”
Partner, CEE Capital Markets
Alexander Rafajlovič has been active in the real estate market since 2004. He is an Associate in the Prague office. Alexander joined the Capital Markets team after spending 5 years in the Research department of C&W. As Head of Research for Czech Republic and Slovakia, he has provided feasibility and consultancy advice to developers, investors, tenants and landlords across all sectors of the property market including retail, office, logistics and residential. His main focus has been retail research. Alexander is member of the ICSC’s European Research Group. More »
Cushman & Wakefield
Meyer Bergman European Retail Partners (MBERP) acquired the 58,500 sqm shopping centre in a portfolio with Forum Ústí nad Labem in 2011 in partnership with Healthcare of Ontario Pension Plan.
The centre opened in 2012 and currently attracts around 9.5 million visitors a year. The tenant roster includes Albert Hypermarket, Peek&Cloppenburg, H&M, C&A, Marks & Spencer, Reserved and Cinema City among 200 other tenants. Forum Nová Karolina is the premiere fashion shopping and urban leisure destination in Ostrava, the third largest city in the Czech Republic with a catchment area of cca. 600,000 inhabitants.
Kinstellar advised Helaba and ČSOB. The Kinstellar team was led by Klára Štěpánková (Partner) and Leo Javorek (Managing Associate).