Property development company MAS Real Estate has acquired the Nova Park Mall, in Poland.
The company said in a statement released Monday that the acquisition was an important step in achieving its updated strategy to deliver sustainable growing income distributions - up at least 30% a year for the next three years - through exposure to markets in Central Eastern Europe and Western Europe.
Located 150 km from Berlin, Nova Park is a dominant regional mall with good connections to transport nodes and a short walking distance from the city centre.
In addition to the immediate income being generated from the property, the acquisition provides significant opportunities to enhance the income stream and strengthen the mall’s dominance through active asset management and a substantial extension of about 6 800 m².
“This transaction forms part of our [joint venture] with Prime Kapital and emphasises the synergies between the two businesses and management teams,” commented CEO Lukas Nakos.