US Portico Investments sells six properties in Romania
Portico Investments, indirectly owned by the Washington State Investment Board, sold six retail properties in Romania to Praktiker Real Estate and Lidl Romania, in two transactions totaling over EUR 8.5 mln, announced real estate consultancy firm Colliers - which advised Portico on the deals.
In separate news, earlier this April, Portico entered the second round of negotiations to acquire the nine stores in Romania that the German group Metro wants to sell and lease back.The transaction is estimated at above EUR 100 mln.
The portfolio sold by Portico Investments includes six retail projects, located in Tulcea, Resita, Ramnicu Valcea, Drobeta-Turnu Severin, Barlad, being leased by Lidl, Penny Market, MOL Romania, Jysk, Altex, Ingrimar, Adidas, Romstal, and Pepco, with a total leasable area of 16,312 sqm.
A leading real estate investor and developer in Central and Eastern Europe, Portico Investments focuses primarily on real estate in the food retail sector, in quality locations that are integrated into sustainable communities.
The company manages 69 properties in Romania, Hungary, and the Netherlands, with a leasable area of 135,000 sqm of retail space.
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