28 Sep MITISKA REIM continues European expansion – First Spanish acquisition
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 on behalf of FRI 2 of Portal Mediterraneo retail park in Vinaroz (approx. 200 km south of Barcelona). In addition, Mitiska REIM has announced the appointment of Christophe Mouton as Head of Spain and Portugal, and Stefan Klug as Head of Germany.
Mitiska REIM’s first Spanish acquisition on behalf of FRI 2, 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.
In line with Mitiska REIM’s plans to expand in the Spanish market, Christophe Mouton has joined the company as Head of Spain and Portugal. Christophe is responsible for the sourcing, development and management of partnerships with retail park developers and investors, with a strong focus on the investment in new retail park development projects. Before joining Mitiska REIM, Christophe was the CEO of Klépierre/Corio and Altarea in Spain and Germany, managing relevant portfolios of shopping centres. Prior to this, he launched and managed the Bouygues Inmobiliaria Retail Parc Department.
Stefan Klug has joined Mitiska REIM as Head of Germany, with responsibility for the development, planning and implementation of new retail parks, including acquisition, finance and leasing. Stefan has 24 years’ experience in the German real estate industry, with a special focus on retail. His prior positions include senior roles at Karstadt Immobilien AG, Karstadt Warenhaus AG and most recently as managing director at mfi Development GmbH (Unibail Rodamco Germany).
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.”