Mitiska REIM, Park Lane Developments form retail park JV in Bulgaria

Mitiska REIM, on behalf of the MEREP 3 fund, has formed a joint venture partnership with Park Lane Developments to develop retail parks in Bulgaria.  

Park Lane Developments is a commercial property company that develops and manages prime office, logistics/light industrial and retail park assets in Bulgaria and the Central and Eastern Europe region. Park Lane is part of AG Capital, a leading commercial and residential real estate investment group operating in Bulgaria, Romania and Poland. 

Under the joint venture, Mitiska REIM and Park Lane plan to develop and open at least five prime retail parks in Bulgaria over the next five years. The joint venture has already acquired its first land plot in the Hadzhi Dimitar district of Sofia to develop a retail park, which is scheduled to open by the end of next year.