by Property Forum | Investment

Graz-based Supernova Group is continuing its expansion in Slovenia by buying ten shopping centres of Centrice Real Estate GmbH (a company of the American Lone Star fund). The latter had taken over the properties in 2016 from the Austrian company, Heta, the liquidation company of Hypo Alpe Adria within the framework of a major overall transaction. This Qlandia package was the centrepiece of the portfolio and incorporates market-leading shopping centres in several Slovenian regions.

The volume of the transaction amounts to more than €220 million and is already the second key investment by the Supernova Group in Slovenia in 2019. The transaction is being financed by own funds and in cooperation with several international and local banks. “The size and volume of the entire transaction was a remarkable one for Slovenia. It was handled in a very professional manner by all parties involved,” says Michael Meidlinger from Centrice.

“The portfolio rounds off our current holdings portfolio and ensures that we can now offer the Slovenian population comprehensive coverage,” says Markus Pinggera, Managing Director of Supernova. All centres have a similarly strong mix of tenants and meet all of the local services needs of the customers. In addition to Interspar, dm and Müller Drogerie, renowned international tenants such as Deichmann, Humanic, H&M, Hervis and McDonalds are also represented in the centres. “We at C&A see the acquisition of the portfolio as very positive as Supernova is pursuing a very long-term strategy. In particular, the professional and cost-efficient management of their shopping centres and specialist stores offers the basis for cost-effective and successful operation of our branches,” says Harald Aichberger from C&A.

“We are delighted at this further milestone and after the physical handover in the next few days we will commence the integration of the centres into the Supernova network,” says Jakob Eichberger, Head of Centre Management at m2 Group which manages the centres for Supernova. “We have strong synergies in the management and advertising of centres and can thus substantially improve the overall presence of Supernova in Slovenia further,” he adds.

With this transaction, the Supernova group of companies clearly breaks through the threshold of €100 million in annual rent and has now increased the share of Slovenian projects in the overall portfolio to just over 30 per cent of the volume. Slovenia had always been a very successful core market for the group; this transaction has secured the group’s market leadership in the country in the long term. The group will also continue to take the wishes of Slovenian consumers into account and respond quickly to new trends in the retail and service sector through active management, whereby particular focus will be placed here on the local characteristics.