CBRE advises MID on sale of retail portfolio across Croatia and Slovenia

November 14, 2018, 14:40 (PX Newswire)

The Belgrade office of US-based real estate advisor CBRE has successfully advised MID on the sale of five retail parks in Slovenia and Croatia, for a total consideration of just under €50 million.

The sale, to Austrian-based Immofinanz, includes three centers in Slovenia (Krsko, Ptuj, Maribor) and two in Croatia (Valpovo, Osijek) , and will strengthen Immofinanz’s grip on the retail park market across South Eastern Europe. The deal coincides with Immofinanz’s acquisition of MPC’s three retail parks in Smederevo, Borca and Subotica in Serbia.

The seller, MID Group is also Austrian-based, and has real estate development activities across Slovenia, Croatia, Italy, Slovakia and Hungary. They instructed CBRE in mid-2018 to dispose of the retail assets in Croatia and Slovenia.

Uros Grujic from CBRE who handled the sale on behalf of MID commented “This deal is further proof of the increase in investor interest in the region, and we are proud to have advised MID on such a ground-breaking cross-border deal. Both Slovenia and Croatia are very important markets for CBRE, with both countries being perceived most positively of all the South Eastern European markets we cover. Slovenia in particular has witnessed a lot of investment activity over the past 12 months, where in Ljubljana alone this year we have sold four prime office buildings. We expect more deals in both markets to close in Q4 of 2018 and Q1 of 2019.”