Mitiska REIM makes first acquisition in France

Mitiska REIM makes first acquisition in France

Mitiska REIM, the leading specialist investor in European retail parks, has today announced its first French acquisition, Retail Parc Val Saint-Clair in Hérouville-Saint-Clair near Caen, acquired on behalf of FRI 2 from Klépierre. This continues Mitiska REIM’s European expansion, having entered both the German and Spanish markets during the past 12 months.

Retail Parc Val Saint-Clair is an existing income-producing retail park, comprising 18 units with a gross leasable area of 13,500m2, and parking for 630 cars. The site is adjacent and linked to a Carrefour hypermarket, and tenants include a range of national and international brands including Electro Depot, Action, Sport 2000, KFC, Chaussea and Maxi Zoo.

Commenting on the acquisition, Axel Despriet, CEO of Mitiska REIM, said: “Following our value-add investment approach, we plan to reposition the property as a local convenience shopping hub, by bringing in additional anchor tenants to serve shopper’s daily needs, combined with a new marketing plan to increase the visibility of the centre.”

Luc Geuten, Chairman of Mitiska REIM, adds: “Since the closing of the FRI 2 fund in December last year, our focus has been on extending the portfolio of investments across our Western, Central and Eastern European markets. This first acquisition in France, combined with our recent acquisitions in Germany and Spain, has consolidated Mitiska REIM’s position as Europe’s leading specialist investor in retail parks.”

Mitiska REIM has built on behalf of FRI and FRI 2 a portfolio of 45 retail across Europe and has generated a strong pipeline of additional investment opportunities. Over the last year, Mitiska REIM has been steadily growing its European investment team, and last month appointed Pierre Rochard, joining from Carrefour, as Investment Manager France.

For further information, please contact:

Pierre Rochard
Investment Manager France
Mitiska REIM
Tel : +33 679 59 19 87

Sylvie Geuten-Carpentier
Head of Investor Relations & Corporate Communications
Mitiska REIM
Tel: +32 495 502268


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