Austrian real estate developer Immofinanz Group said it has acquired eight retail parks in Croatia, Serbia and Slovenia for €90.5mn.
The deals will increase Immofinanz’s Stop Shop portfolio to 80 locations in nine countries with over 567,000 sq m of rentable space.
"These acquisitions strengthen our position as the leading European retail park operator and, with regard to Croatia, mark our entry into a new EU retail market which is very attractive for our international tenants," the company’s COO Dietmar Reindl said in the press release.
The newly-acquired properties are fully rented and generate an annual rental income of roughly €7.2mn. The seller of the locations in Slovenia and Croatia is the MID Group, while the properties in Serbia were bought from Serbia's MPC Group.
The acquisition in Slovenia includes three retail parks in Maribor, Krsko and Ptuj with roughly 22,000 sq m of rentable space. The two retail parks purchased in Croatia have nearly 13,500 sq m of rentable space in total and are located in Osijek and Valpovo. The acquisitions in Serbia involve retail parks with roughly 32,500 sq m of rentable space in Subotica, Borca and Smederevo.
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