Immofinanz has acquired eight retail parks in Slovakia and Hungary for a total consideration of €79 mln.
The properties will be rebranded as Stop Shop retail parks, bringing Immofinanz's Stop Shop portfolio to 66 assets in seven countries, covering 449,000 m2.
'These acquisitions represent an excellent addition to our Stop Shop portfolio in Slovakia and Hungary. The good locations, successful operations in all retail parks, a favourable local competitive environment and the proven, valuable tenant mix speak for these attractively priced investment opportunities,' commented Oliver Schumy, CEO of Immofinanz. 'Our goal is to increase the number of Stop Shops to more than 100 over the coming years, through our own development projects as well as further acquisitions,' he added.
The Slovakian assets comprise six retail parks in the cities of Bardejov, Michalovce, Prievidza, Roznava, Presov and Bratislava Raca. The seller is Austrian firm WM Invest.
'These six properties are situated in established retail locations and have very good occupancy rates,' said Michael Wakolbinger, the vendor's managing director. The transaction brings Immofinanz's retail park portfolio in Slovakia to 16 locations with 112,000 m2 of rentable space.
The other two retail parks, located in the Hungarian cities of Hatvan and Szolnok, were sold by Real 4 You Immobilien. The deal brings Immofinanz's Hungarian Stop Shop portfolio to 14 locations with 128,000 m2 of rentable space.
The retail parks, which are anchored by a mix of tenants including Deichmann, Takko, JYSK and C&A, will be rebranded after closing.
