Immofinanz continues with expansion in Europe

Immofinanz continues with expansion in Europe

Published at: 2019-08-30 09:41 | Author: CIJ Serbia
Immofinanz's expansion of its Stop Shop retail park network has continued recently with the acquisition of six fully-leased retail parks in Slovenia and Poland that added 54,000 sqm of total space to the portfolio. The annual rental income based on invoiced rents from the new centers is approximately €6.6m.
“This growth step not only strengthens our position as the leading European retail park operator, but also improves our sustainable cash flow. It increases both our tenant base and our rental offering for international retailers. That represents a clear competitive advantage, and the potential return in these markets speaks for itself,“ said CEO Oliver Schumy. “With these activities, we have met our target to substantially expand the Stop Shop portfolio to 90 locations in 2019. Our goal for the next two years also remains intact – we want to increase the number of Stop Shops to over 100 – through acquisitions as well as our own development projects.“ Immofinanz‘s Stop Shop portfolio, including the latest acquisitions and development projects, now includes 90 retail parks in nine countries

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