The Czech real estate fund Trigea, which specializes in investments into commercial properties with attractive yields, has purchased two retail parks in Moravia from an international fund: Nákupní park Haná Olomouc and Retail Park Ostrava. Both properties are located in established retail zones with high tenant stability and long-term leases.
CBRE has been managing both parks since 2013 and has extended most of its lease agreements in recent months. It thereby brought the parks’ occupancy to 100 percent and subsequently found buyers for the owners. This, the fifth transaction that CBRE has mediated this year is another positive sign of a revival of the Czech real estate market, where there is an abundance of free capital but few suitable and high-quality investment products.
“Both parks are established in their catchment areas and have not lost their popularity during the pandemic. Customers like an attractive mix of brands, the possibility of comfortable outdoor parking and direct access to shops,” commented Vítězslav Doležal, Director in the Investment Properties team at CBRE, adding: “Nákupní park Haná Olomouc will strengthen its position even further because it plans to open the popular Lidl grocery store chain here in the second quarter of next year, which will allow the new owner to continue working with the offer of brands.”
“The strategy of the Trigea property fund is to build a diversified portfolio of quality real estate that will ensure an above-standard attractive return for investors. This year we want to deliver our investors a return of around 6 percent. The new acquisition of two wonderfully performing retail parks will certainly contribute to this,” said Tomáš Trčka, Managing Partner of the Trigea real estate fund.
“The retail parks were already popular before the pandemic due to the number of expansion opportunities. During the pandemic and related measures, this trend has become even stronger and retail parks have become an established part of the retail chain portfolio,” commented Jan Janáček, Head of A&T Retail in CBRE.