20 Jun Mitiska REIM – Our past year in numbers…
Over the past 12 months, Mitiska REIM has continued its investment program in convenience real estate assets, which is now accelerating following the closing of our third flagship fund, MEREP 3.
Here’s our past year in numbers…
1 fund closed
February this year saw the final closing of the MEREP 3 European value-add fund at €310 million, exceeding the initial target of €300 million and representing a 39% increase in funds raised compared to the preceding fund at final close.
€1 billion total investment capacity
Following final close, the MEREP 3 fund combined with debt financing provides a total investment capacity of up to €1 billion to invest in convenience real estate projects across Europe. To date, the fund has committed 38% of equity raised to 8 investments.
4 new assets acquired or opened
Over the past 12 months, Mitiska REIM has acquired on behalf of funds one retail park in the Netherlands for value-add redevelopment and opened three new convenience real estate developments, comprising retail parks in Romania and Portugal and a new self storage facility in Belgium. In total, these sites represent a total gross leasable area (GLA) of around 59,000 m2.
17 projects under development
At present, we have 17 development or value-add projects underway which are planned to open in 2025-26, representing a mix of retail parks, multi-let light industrial, self storage and urban logistics projects, spread across 8 European countries.
1.3 million m2 gross leasable area
Over the past 13 years, the total GLA invested or developed by Mitiska REIM now totals approximately 1.3 million m2 across 111 properties in our 11 European markets of Belgium, The Netherlands, France, Germany, Spain, Portugal, Romania, Poland, Czech Republic, Slovakia and Bulgaria.
20+ local partners across Europe
Our network of local co-investment partners across Europe continues to grow, providing on-the-ground presence and access to off-market deals, with two new joint-venture partnerships signed in the past 12 months.
100% of BREEAM certifications “Very Good” or better
Mitiska REIM continues to be a frontrunner in ESG best practice, with 100% of BREEAM certifications awarded thus far across the convenience real estate portfolio being “Very Good” or better.
43% green leases
Our program to reduce greenhouse emissions across our standing assets continues, with 43% of our GLA now under green leases. To find out more about Mitiska REIM’s ESG initiatives, please read our latest ESG Report by following this link.
43 team members
The Mitiska REIM team has continued to expand over the past 12 months, with 43 professionals now working across investment operations and the investment platform. We are proud to have a 40% female representation across a team of 8 different nationalities speaking 12 different languages.