IMMOFINANZ: adds Italy as a new market to its successful STOP SHOP European retail park portfolio

DGAP-News: IMMOFINANZ AG / Keyword (s): Real estate / Extension

IMMOFINANZ adds Italy as a new market to its portfolio of successful STOP SHOP European business parks

20.07.2021 / 08:31
The issuer is solely responsible for the content of this advertisement.

IMMOFINANZ adds Italy as a new market to its portfolio of successful STOP SHOP European business parks

  • With its entry into the Italian market, IMMOFINANZ now operates more than 100 STOP SHOP retail parks in ten European countries
  • Ten Italian STOP SHOP sites with a total investment volume of around 250 million euros are planned by 2024
  • The acquisition of a fully occupied retail park of approx. 27,000 m² of rental space in the town of San Fior, in northern Italy, in Veneto, has already been completed
  • IMMOFINANZ’s position as the leading retail park operator in Europe will be increased to around 140 locations through acquisitions and internal development projects

IMMOFINANZ continues to expand its successful STOP SHOP retail park brand by entering a new market in Western Europe – Italy. The first acquisition in this country is the fully occupied Parco Fiore in the town of San Fior, in northern Italy, with approximately 27,000 m² of rental space. The seller is the international investment bank Barings, which held the property in the European Core Property Fund Italy managed by Kryalos SGR. The sale price amounted to approximately 35.0 million euros.

“The Italian market is a perfect complement and an additional future growth driver for our European STOP SHOP retail platform. With a population of over 60 million, Italy is one of the largest countries in Europe. the business structures combined with purchasing power and consumer behavior, especially in central and northern Italy, create significant potential for the establishment of modern business parks under the STOP SHOP brand. 2024 “, explained Dietmar Reindl, COO of IMMOFINANZ, on strategy.

IMMOFINANZ has focused on this profitable and crisis resistant asset class with its very good returns for many years and identified the inherent potential at an early stage. “The latest crisis once again confirms an important point: Business parks with an emphasis on everyday products, excellent transport links and a diverse tenant mix are the clear winners and very popular with our international tenants and clients. clients. Italy, where this product has not yet established in the quality segment, offers many possibilities, ”added Reindl.

Attractive tenant mix and easily accessible location

This commercial park, which will operate under the name STOP SHOP San Fior, is located 37 kilometers north of Treviso and 60 kilometers north of Venice, in the heart of the Veneto region. The catchment area within a radius of 30 minutes by car has nearly 100,000 inhabitants. The Veneto region is one of the most economical and wealthy regions in Italy with a purchasing power significantly higher than the average for the country and the EU as a whole.

The property, with its 1,500 parking spaces, is ideally located along the SS 13 Pontebbana national road which leads from Venice to Udine and Tarvis, then to Austria. The shopping park was completed in two phases in 2017 and 2019 and has a very attractive tenant mix with international retailers like C&A, Takko, MediaWorld, Decathlon, Roadhouse Grill and Burger King as well as well-known Italian brands which include Mega ( supermarket), Globo and Terranova (fashion) and Casa Tua (furniture). The remaining term of the rental contracts (WAULT) amounts to approximately 7.7 years.

ESG highlight

One of the strengths of this retail park is the photovoltaic equipment under construction which will supply the public network with green electricity. The new property of the portfolio supports IMMOFINANZ’s sustainability requirements for all locations. In 2019, IMMOFINANZ launched a project to install photovoltaic equipment in STOP SHOP retail parks, the most widespread installation of which is currently taking place in Austria.

This latest acquisition will bring IMMINANZ’s STOP SHOP portfolio to 109 sites (including development projects) in ten countries. The 99 permanent investments represent approximately 750,000 m² of leasable area and a book value of approximately 1.1 billion euros.

Details on the STOP SHOP wallet

STOP SHOP is the European brand of IMMOFINANZ retail parks. STOP SHOPs are friendly and practical local suppliers with a catchment area of ​​around 30,000 to 150,000 inhabitants and offer a wide range of products with good value for money. With efficient transport links and ample parking, these business parks focus on price-conscious “smart shoppers” who appreciate easy accessibility. The STOP SHOP portfolio shows an occupancy rate of 98.0% as of March 31, 2021 and a yield of 7.9% on the basis of invoiced rents.

IMMINANZ’s STOP SHOP portfolio, including the latest acquisition, includes 99 retail parks (permanent investments) in ten countries: Slovakia (16 STOP SHOP), Slovenia (14), Hungary (14), Serbia (14), Austria ( 13), Czech Republic (12), Poland (10), Croatia (4), Italy (1) and Romania (1).

On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities focus on the office and retail segments of eight main markets in Europe: Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and the Adriatic region. The core business covers property management and development, STOP SHOP (retail), VIVO! The (retail) and myhive (office) brands represent strong focal points which are synonymous with quality and service. The real estate portfolio has a value of approx. 5.1 billion euros and covers around 220 properties. IMMOFINANZ is listed on the Vienna stock exchanges (first ATX index) and Warsaw. More information under:
https://www.immofinanz.com

For more information contact:
Bettina schragl
Head of Corporate Communication and Investor Relations
T +43 (0) 1 88 090 2290
+43 (0) 699 1685 7290
[email protected]
[email protected]

1100 Vienna, Wienerbergstraße 9, Austria
www.immofinanz.com

20.07.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

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