European convenience real estate investor Mitiska REIM has sold the 10,900sqm Retail Park Strakonická asset in the Czech city of České Budějovice to Fio Real Estate Fund for an unspecified sum.
Mitiska REIM acquired Retail Park Strakonická in December 2022 on behalf of the FRI 2 fund in partnership with Asset Services. Following the repurposing of an existing Albert hypermarket and the construction of an extension, the grocery-anchored retail park opened in November 2023.
David Tejml of Asset Services said: “We early on recognised the redevelopment potential of this former hypermarket site, which enjoys a key strategic location within the city. Since opening two years ago, Retail Park Strakonická has become a go-to shopping destination for both people in the city and the wider catchment area.”
Tomas Cifra, Mitiska REIM’s managing director for Romania, Czech Republic, Slovakia and Bulgaria, said: “We continue to see a solid pipeline of opportunities both in the Czech Republic and across our European markets to repurpose existing buildings and redevelop them to create modern, successful and sustainable retail parks and convenience centres.
“Retail Park Strakonická is a great example of this value-add approach, with the retail park now being successfully divested on the completion of our redevelopment and asset management programmes.”
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