ARTICLES LABELLED WITH TAG retail

Immofinanz refinanced approximately €1.6 billion of financial liabilities during the 2017 financial year. This volume represents roughly 60% of the group’s financial liabilities as of 30 September 2017 and covers extensions as well as new borrowings. The transactions will reduce future interest expense by roughly €18.3 million per year.

A Slovak private equity group has disposed of a 6,800 sqm hypermarket in Liptovský Mikuláš with an exceptionally long lease with Tesco to a Czech private investor, Cushman & Wakefield announced on Twitter.

Shopping centres of the future will become just ‘centres’ and will reinvent themselves as mixed-use destinations. Healthcare, educational and leisure facilities will all become a fundamental part of the shopping centre, according to new insights from the Future of Retail 2030, by CBRE.

The Board of Directors of TK Development has decided that going forward, property development activities will be confined to the Danish and Swedish markets, and the activities in Poland will be divested.

NEPI Rockcastle inaugurated Shopping City Ramnicu Valcea, following an investment of €40 million. With a leasable area of 27,900 sqm, Shopping City Ramnicu Valcea offers 14,000 sqm of fashion brands, a hypermarket and services area of 10,000 sqm and 3,000 sqm of restaurants and entertainment area.

GTC’s Polish flagship retail project was officially granted an investment loan facility in the maximum amount of up to €200 million. Under the original agreement, Bank Pekao S.A. granted a construction loan facility of up to €116 million.

British group Kingfisher PLC, a European DIY chain present in Romania through the Brico Depot brand, acquired Praktiker Romania, which currently operates 26 units and is one of the largest DIY retailers in the country. PeliFilip assisted Kingfisher PLC.

Auchan Retail Romania, a subsidiary of Auchan, has acquired OK, a supermarket chain which has three units in the Bucharest area, zf.ro reports.

Neptune – a joint venture between Neinver and TH Real Estate, acting on behalf of TIAA, has completed the purchase of Factory Warsaw Ursus Outlet Mall in the capital of Poland for €79.7m representing a net initial yield of 6.33%.

Griffin Real Estate subsidiary Chariot Top Group BV signed a preliminary agreement to acquire the “M1 Portfolio” for circa €1 billion. Sellers are funds managed by Ares Management L.P., AXA Investment Managers – Real Assets and Apollo Rida.