Trigea Fund buy two retail parks in Moravia, Czechia
The Czech real estate fund Trigea, which specializes in investments in commercial real estate with an attractive return, bought two retail parks in Moravia from the international fund: the Haná Olomouc Shopping Park and the Ostrava Shopping Park. Both properties are located in established retail zones with high stability of tenants and long-term leases.
CBRE has been managing both parks since 2013 and has extended most leases in recent months. This reached 100% occupancy of the parks and subsequently found buyers for the owners. The fifth transaction, which CBRE mediated this year, is another positive signal about the recovery of the Czech real estate market, where there is enough free capital, but few suitable and high-quality investment products.
"Both parks are established in their catchment areas and did not lose their popularity during the pandemic. Customers like an attractive mix of brands, convenient outdoor parking and direct access to shops," comments Vítězslav Doležal, director of investments in the real estate consulting company CBRE, and adds: " The Haná Olomouc shopping park will further strengthen its position in the future, because Here, in the second quarter of next year, the popular Lidl food chain plans to open a store, which will allow the new owner to continue working with the brand offer."
"The strategy of the Trigea real estate fund is to build a diversified portfolio of quality real estate, which will provide investors with an above-standard attractive return. This year we want to deliver a yield of around 6% to our investors. The new acquisition in the form of two great-performing retail parks will certainly contribute to this," says Tomáš Trčka, CEO of the Trigea real estate fund.
"Retail parks were already very popular before the pandemic due to the number of expansion opportunities. During the pandemic and related measures, this trend intensified and retail parks became an established part of the retail chain portfolio, "comments Jan Janáček, Head of Retail Leasing at CBRE.
The Haná Olomouc shopping park has a leasable area of 19,200 m2. Sellers of furniture and household equipment are on 70% of the area - these are leading brands such as Möbelix, Siko, OKAY furniture, BRENO carpets or Jysk. Another 14% is the offer of electro (Electro World) and from next year also the food chain Lidl (9%). In the Retail Park Ostrava with a total leasable area of 10,300 m2, brands from the field of fashion (33%), from the furniture and household equipment sector (32%) are represented, as well as sellers of sports equipment (16%). In the park you will find popular brands such as Sportisimo, Decathlon, DM drugstore, Sinsay or Super zoo. Both parks are easily accessible and offer a number of free parking spaces.