Poseidon Group sold EUR 50 mln Croatian Retail Property Portfolio

Poseidon Group, an investor, asset manager and property manager of the Capitol Park centres across Croatia, confirmed the sale of the assets they fully manage in Zadar, Križevci, Krk, Jastrebarsko, Ivanić-Grad and Makarska, to a group of local private investors.

Shopping Capitols in Zadar and Krk and Capitol Parks in Križevci, Ivanić-Grad, Makarska and Jastrebarsko were all acquired from Konzum during the first decade of 2000 and fully redeveloped and refurbished throughout 2019 and 2020 with Poseidon as the development manager in the refurbishment phase and asset and property manager after re-opening. The company remains property, asset and facility manager, taking care of more than 50 tenants on over 37,000 sqm of gross lettable area. This asset portfolio worth EUR 50 mln was now bought by a group of local private investors.

Ante Grubišić, Director of Asset Management in Poseidon Group, comments: “The development and sale of retail parks and shopping centres with Capitol Park brand is a classic example of Poseidon Group’s value-add and investment approach, converting old facilities and sites into modern retail parks and shopping malls of the highest international standard, and delivering significant value to the cities they operate in, its inhabitants and all stakeholders involved. We aim to provide the best possible service to the visitors and to become a shopping destination of choice for local residents. We are thankful to all local communities for their support and loyalty.”