The purchase of a further seven properties in Romania is being examined by the retail property developer, deal also planned in England.
The Grazer Supernova Group, operator of specialist market and shopping centers in Central and Southeastern Europe, is continuing its expansion. To this end, the company has taken over the Jupiter City shopping center in Pitesti, Romania. Jupiter City covers 45,000 square meters and is home to 90 shops. It is to be expanded even further.
“This is a good entry into the Romanian market for us. We currently have seven other shopping centers in Romania in the testing phase and then I'm on my way to England. These are my two plans for next year, ”says Supernova founder Frank Albert to the KURIER. “We are looking at a specific transaction with twelve retail parks in England and we are waiting to see what happens with Brexit.” Addendum: “If Brexit goes off in a reasonably friendly manner, we will do the transaction next year.”
Investor and Supernova founder Frank Albert
England is seen as a rather difficult market. “It's always the difficult markets that offer you the best opportunities,” says the Supernova boss. “In the retail park business, we benefit when times are bad. We have had good growth rates in the past few months. “
The core business of Supernova is the development, management and rental of commercial real estate in Austria, Germany, Slovakia, Slovenia and Croatia.
100 million euros
The portfolio currently comprises 79 properties with a value of more than 1.5 billion euros. The annual rental income is around 100 million euros.
In the past three years, Supernova has taken over seven shopping centers in Croatia alone and opened a new center this summer despite the Corona crisis.
In Slovenia, too, the company took over ten retail properties from the Mercator portfolio and eleven shopping centers from Qlandia Centrice Real Estate GmbH last year.
“This year we have been concerned with integrating what we bought last year into the inventory,” says Frank Albert. “And we are building an extension of our largest shopping center in Ljubljana.”
Supernova is the market leader in Slovenia and Croatia; in Slovenia the market for shopping centers is saturated, in Croatia only smaller retail parks are possible.
Albert reached the biggest deal to date in the summer of 2015 with the takeover of 58 locations of the bankrupt home improvement chain bauMax. Around 30 locations are currently rented to the DIY chain OBI.
