Central Europe keeps building up
Central European real estate has attracted investment attention across property sectors, as investors snap up retail, office and even hotel assets in the more established markets of the region.
Peakside Capital has acquired 72 retail assets in the Czech Republic for €70 million. The 177,000-square-metre portfolio was sold by Atrium European Real Estate Ltd, on behalf of a separate account client.
“This transaction is the first for our newly-created joint venture with a large separate account client to pursue opportunistic strategies in the region,” commented Stefan Aumann, founding partner of Peakside, in a statement.
The transaction allows Atrium to shift away from smaller-format retail properties and continue its focus on dominant shopping centre assets. The firm recently acquired AFI Palác in Pardubice, Czech Republic, and Focus Mall in Bydgoszcz, Poland, totalling 62,000 square metres of retail space, for approximately €205 million.