ING Real Estate said on Wednesday that it has acquired a newly-built retail park in the Czech city of Pilsen, about 90 km west of Prague, for around EUR 16mln from the developer Multi. The property is earmarked for ING RE's Property Fund Central Europe.
ING Real Estate said on Wednesday that it has acquired a newly-built retail park in the Czech city of Pilsen, about 90 km west of Prague, for around EUR 16mln from the developer Multi. The property is earmarked for ING RE's Property Fund Central Europe.
Retail Parc Pilsen opened its doors in November 2007 and houses 11 retail units, including brands such as Intersport, Okay, Siko, Halfords Maxx and a KIKA premises (which is not part of the acquisition). The park provides 8,200m² of space and 500 parking spots.
Commenting on the acquisition, Menno Verhoeff, head of acquisitions for Central and Eastern Europe, said: 'Retail Parc Pilsen forms an integral part of, and adds value to, the immediately adjacent well established, Olympia Pilsen Shopping Centre that is also part of the portfolio of the ING Property Fund Central Europe.'
