ARTICLES LABELLED WITH TAG retail

GTC’s Polish flagship retail project was officially granted an investment loan facility in the maximum amount of up to €200 million. Under the original agreement, Bank Pekao S.A. granted a construction loan facility of up to €116 million.

British group Kingfisher PLC, a European DIY chain present in Romania through the Brico Depot brand, acquired Praktiker Romania, which currently operates 26 units and is one of the largest DIY retailers in the country. PeliFilip assisted Kingfisher PLC.

Auchan Retail Romania, a subsidiary of Auchan, has acquired OK, a supermarket chain which has three units in the Bucharest area, zf.ro reports.

Neptune – a joint venture between Neinver and TH Real Estate, acting on behalf of TIAA, has completed the purchase of Factory Warsaw Ursus Outlet Mall in the capital of Poland for €79.7m representing a net initial yield of 6.33%.

Griffin Real Estate subsidiary Chariot Top Group BV signed a preliminary agreement to acquire the “M1 Portfolio” for circa €1 billion. Sellers are funds managed by Ares Management L.P., AXA Investment Managers – Real Assets and Apollo Rida.

EPP announced the acquisition of 12 major shopping centres and retail parks (M1 portfolio) in three tranches over the next three years. The acquisition from a consortium (owned 25% by Redefine Properties), totals €692 million and forms part of a larger 28 property portfolio that has been acquired by the consortium. Upon completion of the transaction in mid-2020, EPP’s portfolio will comprise at least 27 modern shopping centres comprising almost 1 million square metres GLA

Mitiska REIM, in partnership with Squaretime Development, has announced the opening of two new retail park developments in the Romanian cities of Bistrita and Pascani.

GTC Serbia announced that it has managed to secure lease agreements with several new brands for its latest Belgrade development, Ada Mall. The opening of the 34,000 sqm mall is scheduled for autumn 2018.

Ikea has started the construction of its second store in Romania, which will be finished in H2 2018 following an investment of approximately €86 million, which includes the acquisition of the land.

CBRE has been given a new mandate for the management of a retail, office and residential building in Wenceslas Square in Prague, where Van Graaf department store is the majority tenant. The change of the building manager occurred as part of its sale. The new owner is a fund managed by BMO Real Estate Partners, part of the Bank of Montreal.