Real estate developer Mitiska REIM obtained a EUR 19 million loan from Erste Group Bank, in which Erste's local subsidiary BCR acted as a guarantee agent, for the financing of a new retail park in Pitesti.

The loan is intended to finance the development costs associated with the completion of the commercial park, as well as the subsequent financing of the company after the project becomes operational. 

The law firm PeliPartners assisted Mitiska REIM in this operation.

Mitiska REIM was founded in 2008 by Belgian millionaires Luc Geuten and Axel Despriet, according to Ziarul Financiar.

Last October, sources informed that Mitiska is close to selling its retail parks portfolio in Romania in a deal that could worth EUR 250 million. The retail parks are owned by the FRI and FRI 2 funds, and Mitiska REIM acts as the fund's advisor in the sale transaction.

The two funds have 24 retail parks anchored by Kaufland or Lidl, with a gross leasable area of ​​132,000 square meters. Among the tenants of the shopping centres are Deichmann, DM, Pepco, Jysk, KFC, Kik, and Takko.

iulian@romania-insider.com

(Photo source: Eugene Suslo/Dreamstime.com)