Czech real estate fund Trigea bought two retail parks in Moravia – Retail Park Haná in Olomouc and the shopping centre Retail Park Ostrava, expanding its existing portfolio of three properties with additional retail projects.
Trigea, a Czech real estate fund established in 2019, is currently the fastest-growing Czech fund. It belongs to the Partners financial group whose part is Partners Financial Services – the biggest financial advisory firm on the Czech market.
The fund focuses on the purchase of first-class commercial properties in top locations, especially on office and retail projects in Prague as well as elsewhere. Up to now, its portfolio has consisted of the Louvre and Explora Business Centre office buildings in Prague and the Obchodní centrum Plzeň shopping centre.
Tomáš Trčka, CEO at Trigea says: “It is our strategy to build a diversified portfolio of quality properties in the best locations while achieving above-standard yields for our investors. This year again, we want to deliver a yield of about 6 per cent to our investors. The new acquisition of two very successful retail parks will be a great contribution to the fund.”
Cushman & Wakefield represented the Trigea fund during the transaction. Its data shows that in the first half of this year, 11 retail transactions were completed in the Czech Republic, a large portion of those concerning sales of retail parks.
Michal Soták, Partner, Head of the Capital Markets team in the Czech Republic, Cushman & Wakefield comments: “The retail market survived the Covid-related restrictions in a good shape, with retail parks doing better than shopping centres, as their tenants were closed for a shorter period of time thanks to their focus mainly on essential goods. Their chief advantages include low operation costs, easier operation and management, a specific group of stable tenants, good locations and a selective possibility to perceive the project on a borderline between retail and logistics.”
