Slovak investor IAD Investments, acting through its fund Prvý realitný fond o.p.f., has purchased Laugaricio Shopping Centre from Mint Investments, the Central European investor and developer. The transaction volume was not disclosed but brokers Cushman & Wakefield said it represented the largest property deal in Slovakia this year.
The 26,000 m2 shopping centre, which opened its doors in 2009 in Trencín, Slovakia, is the region's dominant shopping centre with a catchment of around 250,000 people. Retailers include C&A, CCC, H&M, New Yorker and Reserved. The mall has a further 15,000 m2 available for development.
'Having previously invested in office buildings, the Laugaricio acquisition is our first foray into the retail segment. This acquisition was financed by a syndicate of Slovenská sporitelna and Komercní banka,' commented Marián Fridrich, transaction manager at IAD Investments.
The asset's original owners were private investors represented by Mint Investments. Cushman & Wakefield brokered the deal.
The purchaser was represented by MiddleCap Partners, as transaction adviser, and Havel, Holásek & Partners, which provided legal advice.
The deal was closed on December 20 2016.
