Austrian listed property group Immofinanz has expanded its Stop.Shop retail warehouse chain with the acquisition of five new retail parks in Slovenia and the Czech Republic for a total of €26 mln.
Austrian listed property group Immofinanz has expanded its Stop.Shop retail warehouse chain with the acquisition of five new retail parks in Slovenia and the Czech Republic for a total of €26 mln.
The fully rented retail parks provide some 19,000 m2 of space and will be rebranded during the first half of 2014.
The four retail parks in Slovenia are located in the cities of Celje, Velenje, Domzale and Postojna and were acquired from a fund managed by Pramerica Real Estate Investors.
The transaction in the Czech Republic involves a new commercial park in Kladno, near Prague, which was bought from Strasser Immobilien Group.
In total, Immofinanz now has 16 retail parks in these two countries, and a total Stop.Shop portfolio covering a total of 335,000 m2.
Immofinanz has also recently expanded its retail warehouse chain in Poland with the opening in November 2013 of its second Stop.Shop in Mlawa while a new Stop.Shop unit will open in Ketrzyn during the first half of 2014. The Vienna-based group plans to open a total of 10 further retail parks in Poland in the coming years.