Mitiska REIM closes €223m European retail park fund
Brussels-based Mitiska REIM has held a final close for its second fund, First Retail International 2, raising €223 million ($233 million). The fund has exceeded its €200 million ($209 million) equity fundraising target.
FRI 2 is a closed-end fund that invests exclusively in European retail parks, both clustered standalone units and integrated retail properties. The fund has already deployed more than €60 million ($63 million) of equity for acquisitions and development projects in the Czech Republic, Poland, Romania and Spain, and is building a pipeline of additional investment opportunities in Austria, France, Germany and Spain.
It follows Mitiska REIM’s first fund, FRI 1, which was launched in 2013 and has built a portfolio of 19 retail park properties across Belgium, the Czech Republic, France, Poland, Romania and Serbia.
At final closing, 40 percent of the commitments to FRI 2 came from reinvestments and increased commitments f