ARTICLES LABELLED WITH TAG retail

Discount retailers are predicted to find the CEE market very attractive as evidence shows shoppers have favoured the ‘value for money’ approach these retailers provide, reveals a new report by Colliers.

Polish/German-based investment group 4FI has launched a new convenience centre brand in Poland at the beginning of December. The first location of MOZAIKA in Kraków is located on the site of a former Tesco hypermarket.

MPC Properties has acquired the Delta City shopping centre in Belgrade from UK-based Hystead Limited for €115 million.

Futureal Investment Partners has completed its first acquisition – the Manhattan shopping centre in Gdańsk from Sirius Investment for an undisclosed sum.

Property group Immofinanz says it has sold the former retail project Armonia Center Arad to investment fund Oresa for an undisclosed sum. The buyer plans to develop a mixed-use scheme with industrial and retail components.

Chariot Group, an investment platform managed by Griffin Real Estate on behalf of an investment consortium, has sold the M1 Marki shopping centre to Redefine Europe – a wholly-owned subsidiary of Redefine Properties Limited, a Real Estate Investment Trust (REIT) listed on the Johannesburg Stock Exchange. The value of the deal remains undisclosed. 

The Capital Park Group has completed the revitalisation of the Norblin Factory. The complex was granted an occupancy permit at the end of August 2021. The multifunctional project has a total area of over 65 thousand square metres. Its office space has already been fully leased. Visitors to the Norblin Factory can enjoy cultural, entertainment and dining concepts including the original KinoGram cinema, the Bio Bazar organic market, and the capital city’s largest food court Food Town.

Focus Estate Fund has finalized the deal on the sale of two of its retail properties in the Czech Republic to investment group DRFG – Centro Ostrava Retail Park (7 699 sqm GLA) in Ostrava and Most Retail Park (6 471 sqm GLA) in Most. The Fund acquired these assets in 2016 and 2017, respectively. As of the date of the transaction, both properties were 100% leased.

Trei Real Estate just borrowed €27.5 million in its first financing arrangement with a Polish bank. The lending bank is “Bank Polska Kasa Opieki Spólka Akcyjna” (“Pekao”). Collateral for the loan was provided in the form of seven Vendo Parks in Poland, all of which were completed during the past twelve months. The loan has a five-year maturity. The debt capital is earmarked for further residential developments and the construction of additional Vendo Parks in Poland.

Immofinanz's results of operations rose by nearly 60% year-on-year to €180.4 million in Q1-Q3 2021 and even substantially exceeded the comparable 2019 pre-crisis level (+29% versus Q1–3 2019). Net profit turned clearly positive at €295.7 million and also surpassed the pre-crisis level in 2019 (Q1–3 2019: €202.6 million).