Mitiska REIM acquires Portal Mediterraneo retail park (ES)

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Mitiska REIM, the leading specialist investor in European retail parks, has today announced its continued expansion in Europe, through its entry into the Spanish market with the acquisition of Portal Mediterraneo retail park in Vinaroz (approx. 200 km south of Barcelona).  
 
Mitiska REIM’s first Spanish acquisition, Portal Mediterraneo, is an existing and income producing retail park comprising a gross leasable area of 12,400m², spread across 11 stores, which are leased to brands which include Jysk, Bricorama, Norauto and Sprinter.  The property is acquired for Mitiska REIM’s newly-launched institutional fund, First Retail International 2 (FRI 2), and is the first of several acquisitions that Mitiska REIM expects to make in both Spain and Germany in the coming months.
  
Commenting on Mitiska REIM’s expansion in Spain and Germany, Luc Geuten, Executive Chairman, said: “Both Spain and Germany are key markets for us because they offer attractive growth opportunities for the development of new retail parks in Spain, as well as sustainable value enhancement in the strongly developed German market.”
 
Commenting on Mitiska REIM’s investment focus, Axel Despriet, CEO, said: “We have a strong pipeline of further deals and this, combined with our expanding business development and transaction team, makes us very confident of closing further acquisitions in both Spain and Germany in the coming months.”

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