Mitiska REIM has acquired Romanian Alpha Property Development’s portfolio of eleven profitable retail parks and three development projects. The Belgian real estate firm is now the market leader in Romania.
Market leader in Romania
The current retail park network consists of a range of stores, with always a Lidl and Kaufland present. In total, the parks span 55,000 sqm. “This is a high-quality portfolio: every property is in a prime location, first-class renters, long rental agreements and sustainable rental prices”, CEO Axel Despriet said. “We consider this to be a solid investment in a diversified portfolio, with stable long-term income and the option to create additional value. Our previous collaborations with Alpha Property Management enabled us to build a strong foundation in Romania.”
Mitiska REIM already acquired half of Intercora’s retail parks in January and now owns nineteen local retail parks, spanning 85,000 sqm. It also has four projects in development, which will turn Mitiska into the market leader in the Eastern European country.
The Belgian real estate investor almost exclusively invests in European retail parks. It always looks for parks that include important retail brands and a supermarket to generate additional traffic.