ARTICLES LABELLED WITH TAG retail park

AFI Europe announced that it would start building a retail park in Arad by the end of this year. The developer will invest €40 million in the project located on an 80,000 sqm land plot, zf.ro reports.

Oasis Retail Development & Consulting has entered into a partnership with Austrian-based group Supernova for the development of Prima Shopping Center Sibiu. The 40,000 sqm retail park is located north of the city centre.

Catalyst Capital, a European real estate investment and fund management firm, has completed the acquisition of €194 million of high-quality retail assets in Sweden, Germany, Poland and an office development in Paris for its new Catalyst Core Plus European Property Fund (CCPEPF), a €1 billion “evergreen” real estate fund. Catalyst has acquired Galleria Center Syd in Malmo from Baring Real Estate, the Rathaus Center Dietzenbach near Frankfurt from Hahn Group, the Zielony Targówek retail park in Warsaw from Credit Suisse Asset Management and agreed to forward fund an office development by VINCI Immobilier in Saint-Denis, Paris.

Indotek Group has come to an agreement with CA Immo on the purchase of the 16,500 sqm DunaCenter retail park in the Hungarian city of Győr in November 2018. The seller was represented by Colliers International during the deal.

Poseidon Group continues to invest in the Serbian retail market by bringing its Capitol Park brand of retail parks to Zajecar in spring 2019.

Tatra Asset Management (TAM) has acquired a portfolio of nine regional retail parks in Slovakia. The seller, which was represented by CBRE, is KLM Real Estate (KLMre). The transaction also includes the pre-emptive right for other retail parks that the developer is currently preparing.

Representing Magyar Posta Takarék Real Estate Investment Fund (MPTIA), Diófa Asset Management has signed a sales and purchase agreement with Portico Investment for a 27,500 sqm retail portfolio in Budapest and its agglomeration. Once regulatory approval is obtained, the size of the portfolio managed by Diófa will exceed 330,000 sqm.

Victoria Ploiesti West Retail Park is planned to be opened in March 2019, according to Activ Property Services, the property’s exclusive agent. The project is a proximity retail park with 2,690 sqm of GLA, including some major tenants such as Mega Image (591 sqm), Pepco (543 sqm) and Zoomania (496 sqm).

Immofinanz is driving the expansion of its Stop Shop retail park brand and has now purchased eight retail parks in Slovenia, Serbia and Croatia. The purchase price totals approximately €90.5 million. The newly acquired properties are fully rented and generate an annual rental income of roughly €7.2 million, which represents a gross return of 8.0%. These transactions increase Immofinanz’s Stop Shop portfolio to 80 locations in nine countries with over 567,000 sqm of rentable space and a carrying amount of approx. €800 million. Further acquisitions are currently under evaluation, and two Stop Shops in Poland and Serbia are now in the active development phase.

Trei Real Estate GmbH is expanding its Polish investment portfolio in the retail sector. The real estate company, part of the German Tengelmann Group, has opened its tenth Polish retail park under the Vendo Park brand in Łódź, its second investment in the city. The total cost of building Vendo Park at Gojawiczynska Street in Łódź was approximately €4.4 million.