January 2025 – Kinstellar has successfully advised First Retail International 2 (“FRI 2”), a closed-end real estate value-added fund managed by Mitiska REIM, on the acquisition of land in the Slovak capital, Bratislava, for the construction of the “Podunajská brána” retail park, through a joint venture between Mitiska Group and Asset Services, a Czech provider of development, property and facility management services. Work at the site has already begun.
Managed by Mitiska REIM, a leading specialist investment management company in European convenience real estate, FRI 2 invests exclusively in retail parks, both clustered standalone units and integrated retail properties. The fund has already deployed more than EUR 200 million of equity for acquisitions and development projects in Spain, Portugal, Germany, Romania, Belgium, Netherlands, Poland, and the Czech Republic.
Kinstellar assisted FRI 2 throughout the entire transaction process, including due diligence of the target, in particular the respective land plots; preparation and negotiation of the Asset Purchase Agreement; transaction documentation; signing and closing; as well as support with the negotiation and drafting of lease agreements for the future retail park. Financial terms of the deal were not disclosed.
Kinstellar recently advised another Mitiska REIM fund, MEREP 3, on the acquisition of four retail parks in Slovakia from OPC Group—Point Skalica, Point Sládkovičovo, Point Žiar nad Hronom, and Point Veľké Kapušany—as well as on the acquisition of a 50% ownership interest in OP Centrum Retail 2, which is developing a retail park in Liptovský Mikuláš. The deals are part of Mitiska REIM’s plans to expand its retail park portfolio in Slovakia.
Kinstellar’s team in Bratislava consisted of Roman Oleksik (Partner), Dáša Labašová (Managing Associate), and Martin Dančo (Junior Associate).