Shopper Park Plus, a Hungarian logistics park developer and part of the Advent group, has announced its entry into the Polish market and is considering expanding in Romania.
SPP aims to develop three retail parks and acquire a strip mall in Romania. The three retail parks have a total leasable area of around 37,000 sqm, anchored by top food retailers, which would be developed by Shopper Park Plus in partnership with a local developer. The Hungarians would finance these projects for which there are rental agreements, as well as obtained authorizations.
In parallel, SPP is pursuing the acquisition of a strip mall anchored by major international retailers, including a food hypermarket. This separate project has an estimated yield of 9%, for an acquisition value of around EUR 12 million.
Source: economica.net