Trei Real Estate has sold its portfolio of 70 properties in the Czech Republic and Slovakia to Plan B Investments for around €250m as part of a strategy to focus on its core markets of Germany, US and Poland.

The residential and retail real estate manager has sold the portfolio which includes 60 supermarkets and commercial properties in the Czech Republic and 10 retail parks of the Vendo brand in the Czech Republic and Slovakia.

Zdenek Soustal, co-owner of Plan B Investments, said: “I consider it unique nowadays to make a real estate transaction for about a quarter of a billion euros.

“We managed to acquire a portfolio from an international developer at a time when financing is scarce and becoming more expensive, the exchange rate of the crown to the euro is not stable and the real estate market does not move much.”

Last month, Trei also sold its entire Portuguese retail portfolio of 49 properties to LCN Capital Partners for around €150m as part of its to focus on its core markets.

Pepijn Morshuis, CEO of Trei Real Estate, said having already sold the retail property portfolio in Portugal to LCN earlier this year, the sale of the portfolio in the Czech Republic and Slovakia marks the next step in the firm’s “strategic portfolio optimisation”.

Morshuis said: “Our goal in doing so is to fine-tune the profile of Trei as a developer. We are glad to have found a professional and reliable buyer in Plan B Investments who has realised the potential of this portfolio and who will continue to develop the properties.

“Going forward, Trei can concentrate fully on the development of residential projects in our three core markets, these being Germany, the US and Poland plus on the expansion of our Vendo Park retail parks in Poland.”

Trei is the real estate arm of German retail group Tengelmann. The company develops retail parks in Poland under the Vendo Park brand.

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