Mitiska Reim acquires its first German retail park

Belgian real estate firm Mitiska Reim bought a retail park in the German city of Mönchengladbach. It was a collaboration with Luxembourg Investment Group and the group’s first German acquisition.

Additional deals incoming

The location, near the city’s largest train station and business district, has 10,900 sqm of rentable space. The retail park contains twelve locations, with Rewe and Penny as current users already. There is also room for 273 cars. Co-investor Luxembourg Investment Group will update the retail parc and also largely manage it.

“Our first German purchase strengthens our position as the leading investors in the European retail industry. We have many other deals incoming and are currently investigating possible investment options and collaborations to expand our German, Western and Central European portfolio”, Mitiska Reim’s chairman, Luc Geuten, said.

Mitiska Reim now owns 46 retail parks and 340,000 sqm. It has properties in Belgium, France, Spain, Poland and Serbia. It also acquired eleven Romanian retail parks in June.