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Mitiska REIM secures €123 million financing facility for Romanian retail park portfolio

Mitiska REIM has today announced it has extended its relationship with Erste Group Bank AG by securing a €123 million senior debt facility for its entire retail park portfolio in Romania.

Mitiska REIM’s Romanian portfolio is one of the largest retail real estate portfolios in the country, encompassing 24 retail parks with a gross leasable area of 132,000m2.

The entire portfolio was developed, built and managed to a high standard by Mitiska REIM and its Romanian country partner, Square 7 Properties over the past 10 years.

The tenant mix is well-diversified, with a focus on daily needs and discount retail, made up of leading international brands such as Deichmann, DM, Pepco, Jysk, KFC, Kik and Takko.

The retail parks and their tenants have continued to perform well over the past year despite the challenges imposed by the COVID-19 pandemic.

Proceeds of the financing will be used to fund the completion of a new retail park under construction in Baia Mare and extension development projects for existing retail parks in Tulcea, Slatina and Medias.

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