January 26, 2015

MITISKA REIM acquires two retail parks in Poland

MITISKA REIM acquires two retail parks in Poland

MITISKA REIM, a Brussels-based real estate investment management company, has acquired a 100 percent interest in two retail parks in Poland. The Kaufland-anchored projects are located in Stalowa Wola and Andrychow. MITISKA REIM made this investment on behalf of its specialist real estate fund “First Retail International” (FRI). This acquisition is the first realization of the partnership between MITISKA REIM, manager of FRI, and Peppercorn Properties. The seller is the well-known and reputed construction and development company PA Nova.

Both properties are very well located in their relevant catchment areas and benefit from the strong footfall generated by Kaufland. Both properties are 100 percent let with long-term lease agreement to well-know and reputable tenants as Jysk, Pepco, Takko, Deichmann, Empik, RTV euro AGD, Rossmann, Textil Market, etc.

David Tejml, Head of CEE at MITISKA REIM, said: “After successful previous transactions in Romania and Serbia, the acquisition of these well-performing retail parks formally marks our entry in yet another new market. Equally it is the beginning of a promising partnership with Peppercorn Properties. We have strongly appreciated the efforts produced by Darren Haines-Powell and his team at Peppercorn Properties that lead to the completion of this purchase. We eagerly look forward to working and growing together in the years to come. As we strive to be in other countries as well, together with Peppercorn we hope to be an expansion platform for our valued retail partners in Poland. We plan to build a portfolio of approx. 10-15 retail parks in Poland in the next 5 years.”

Darren Haines-Powell, Managing Director at Peppercorn Properties, confirmed: “We are very happy to complete these first acquisitions in Poland with MITISKA REIM and look forward to extending the portfolio with further acquisitions and developments in line with a very detailed strategy that MITISKA REIM has developed for FRI. We have already entered into negotiations for the acquisition of more existing retail parks and land for the development of similar parks and continue to look for further opportunities to develop or acquire such properties.”

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