PL

CZECH REPUBLIC Generali buys stores for a billion

Retail & leisure
Generali Investments has acquired a portfolio of eight retail properties across the Czech Republic for almost CZK 1 bln (around EUR 40 mln).

This is the fourth acquisition for the Generali Fond realit (Generali Real Estate Fund) this year. The transaction was carried out in the form of the 100 pct equity shares acquisition of the three holding companies that own the properties – Retail Project BV, Retail Project HCH and Retail Project VHM from The Czech Real Estate Investment Fund, which is managed by the DRFG Investment Group.

The properties, which have a combined leasable area of 18,700 sqm, are located in Beroun, Čelákovice, Hořovice, Hrádek nad Nisou, Humpolec, Milovice, Varnsdorf and Vysoké Mýto. They are mainly leased to grocery tenants, including Billa, Penny Market and Ahold.

With this acquisition, we are continuing the strategy set for the fund, which involves focusing on residential real estate and retail units in the area of ​​basic human needs. The results so far prove that this mix makes sense and enables the portfolio to be resilient to market fluctuations. Therefore, even in turbulent times, the fund can not only maintain, but above all increase its value. This is our fourth acquisition this year, but we continue to look for other suitable opportunities to expand the fund's assets. At the same time, however, we are not opposed to potential sales either. These would enable us to rotate the portfolio and further optimise it in light of the current market conditions. A possible sale would also bring us additional resources to invest in projects with interesting growth potential for our investors.
Marek Bečička, the head of product and real assets and director of Generali Real Estate Fund CEE

Following this transaction, the fund now owns 23 properties, ten of which are retail units, with a total leasable area of 40,000 sqm.

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