09 Jul Mitiska REIM – Our past year in numbers…
Over the past 12 months, Mitiska REIM has continued its investment program in convenience real estate assets, significantly expanding the portfolio of assets on behalf of funds in both necessity retail and storage.
Here’s our past year in numbers…
15 assets acquired
Mitiska REIM has acquired on behalf of funds 15 new assets, which comprise 14 retail parks and convenience centers spread across Belgium, Poland, Slovakia and Bulgaria, and one Belgian self storage facility. In total, these sites represent a total gross leasable area (GLA) of around 249,000 m2.
15 new development projects in progress
At present, we have 15 new development projects underway, which comprise a mix of retail parks, multi-let light industrial, self storage and urban logistics, across 6 European countries.
16 existing assets undergoing value-add transformations
Value-add transformation projects are currently underway on 16 existing assets, which include extensions, redevelopments and refurbishments, in sites in Belgium, the Netherlands, France, Portugal and Poland.
4 retail parks opened
In the past year, we have opened 4 retail parks, located in Žiar nad Hronom, Stropkov and Bratislava in Slovakia, and Arnhem in the Netherlands, which have brought new modern and sustainable retail infrastructure for shoppers, tenants and local communities.
3 new self storage facilities operational
As part of the roll-out of the innovative Storo concept across Belgium, 3 new self storage facilities have opened in Zaventem, Antwerp Noorderlaan and Evere over the last year, bringing the total number of Storo sites to 7.
1 new storage partnership
In May this year, we announced the expansion of Mitiska REIM’s next-generation storage portfolio through a strategic joint venture partnership with HeyLager, a Germany-based specialist in drive-up storage. The plan is to substantially expand the roll out of the HeyLager platform across Germany in the coming years.
80% of projects below the CRREM curve
To ensure that the carbon emissions of projects are on course to meet levels set by the Paris Agreement, Mitiska REIM has set a target that investments should remain at least 10 years below the CRREM pathway after completion of their development or value-add programs. Currently, 80% of projects are below the CRREM curve, with the target to increase this to 100%.
3 awards won
Mitiska REIM has won 3 industry awards over the past year, with Nova Vila Retail Park in the Portuguese city of Portimão winning best new retail development at the SIC Notícias | Expresso awards and best retail project at the National Real Estate Awards, and Le Quartier Enée in Gembloux winning Best ESG Project at the BLSC Awards from the Belgian Luxembourg Council of Retail and Shopping Centers.
1.5 million m2 gross leasable area
Over the past 14 years, the total GLA invested or developed by Mitiska REIM now totals approximately 1.5 million m2 across 122 properties in our 11 European markets of Belgium, The Netherlands, France, Germany, Spain, Portugal, Romania, Poland, Czech Republic, Slovakia and Bulgaria.
2.2x average realized gross equity multiple
Across 5 funds, Mitiska REIM has delivered an average realized gross equity multiple of 2.2x, and a 17% average realized gross IRR.
72 team members
The Mitiska REIM team has continued to expand over the past 12 months, with 72 professionals now working across investment operations, the investment platform and Mitiska Retail Services, comprising 38% female representation, and 11 different nationalities speaking 14 languages.
Past performance is no guarantee of future results. Mitiska REIM is a licensed alternative investment fund manager under the Belgian 2014 AIFM Law. Mitiska REIM acts in its capacity as fund manager (AIFM) of MEREP Light Industrial, MEREP 3, M3CC, M3GC and FRP, and fund advisor of FRI and FRI 2.