ARTICLES LABELLED WITH TAG shopping

Britain’s Poseidon Group and Belgium’s Mitiska REIM has sold Capitol Park Rakovica, the largest retail park in Belgrade, to Israel’s BIG CEE Group. The transaction closed in December 2019. CMS Belgrade advised the sellers.

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.

CBRE represented Adventum International in the acquisition of the KöKi Terminal shopping centre in South Pest. CBRE also provides property management and exclusive retail leasing and advisory services for the €18 million (6 billion HUF) renewal project of the 66,000 sqm GLA shopping centre

Irish clothing chain Primark‘s long-anticipated market entry into Slovakia has been confirmed as the company has signed a lease agreement with Eurovea. At the same time, the shopping centre has announced that it reached 70% occupancy in the forthcoming extension. Cushman & Wakefield facilitated the transaction.

Local investor DRFG, through its Czech Real Estate Investment Fund, has acquired the Olomouc CITY shopping centre from Mint Investments. With this acquisition, DRFG manages the first primarily leisure-oriented property in its portfolio.

Adventum International, a Malta-based boutique investment fund manager, has acquired the 66,000 sqm GLA Köki Terminal shopping centre in Budapest for its Adventum Quartum investment fund.

Multi Hungary announced its extensive refurbishment plans for Allee shopping centre in Buda, in the most densely populated district of Budapest. Multi will upgrade and renovate the 46,700 sqm shopping centre, while enhancing the tenant mix, interior and exterior design and customer services. Multi will start the execution phase in the second quarter of 2020 and expects to complete most of the work still in 2020.

According to the new CEE research from Colliers International, which looks at entertainment sector in 13 CEE countries, the leisure offer in shopping centres is dominated by multiplex cinemas and fitness clubs, but there are also other concepts that are being added to the mix. Czech consumers spend the most on recreation and culture, the average is €38.23/month. Key findings of the report include the following.

Immofinanz has successfully completed the repositioning and modernisation of its VIVO! Bratislava shopping centre. After a renovation period of nearly 12 months during full operations, the opening of the new shops was celebrated today. VIVO! Bratislava now has 170 speciality shops on 36,000 sqm of rentable space, with many new tenants. The food retailer Lidl and the fashion retailer LPP Group have joined as anchor tenants, and the overall offering has been increased by 20 new brands including, for example, Reserved, Mohito, House, Cropp and Sinsay. Immofinanz has invested roughly €25 million in the modernisation and renovation of the facility, which previously operated as the Polus City Center in Bratislava.

The open real estate fund Investika purchased the Galerie Butovice shopping centre located in the popular office area Nové Butovice in Prague 5. CBRE advised Investika on the acquisition.