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Immofinanz expands to 90 Stop Shops

Eurobuild CEE 16 September 2019

EUROPE Immofinanz will soon have a chain of 90 Stop Shop retail parks when it finalises the purchase of a centre in Poland after having already recently acquired five such centres in Slovenia.

The new Slovenian centres, which were acquired from Centrice Real Estate Ljubljana, have a combined gla of 46,200 sqm and are located in Jesenice, Škofja Loka, Murska Sobota, Slovenj Gradec and Slovenska Bistrica. The retail park to be acquired in Poland with the deal to close in the coming weeks, has 7,900 sqm and is in Łowicz. The centre is being sold by Polish developer Pro Group. “This step in our growth not only strengthens our position as the leading European retail park operator, but also improves our sustainable cash flow. It increases both our tenant base and what we can offer to international retailers. This gives us a clear competitive advantage, and the potential returns in these markets speak for themselves. Through these deals, we have met our target for 2019 to substantially expand the Stop Shop portfolio to 90 locations. We also remain on course to meet our two-year target of increasing the number of Stop Shops to over 100 – both through acquisitions and our own development projects,” says Oliver Schumy, the CEO of Immofinanz.
Immofinanz’s Stop Shop portfolio, which includes both retail parks and development projects, has 16 assets in Slovakia, 14 in Slovenia, 14 in Hungary, 13 in Austria, 10 in the Czech Republic, 10 in Serbia, 10 in Poland, two in Croatia and one in Romania.

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