Belgian developer gets EUR 33 mln financing from Erste for four retail parks in RO

Belgium-based real estate developer Mitiska REIM has secured a senior financing facility worth EUR 33 million from Erste Group Bank for four retail parks in Romania with a total gross leasable area (GLA) of 30,500 sqm, according to Romania-Insider.com.

The financing covers the retail parks in Bistrita, opened in 2017, (pictured), Braila and Drobeta Turnu Severin (both opened in 2019), and a new retail park currently under development in Baia Mare, which will open in the second half of next year.

Mitiska REIM and Square 7 Properties currently own 26 retail parks in Romania, with a total area of over 110,000 sqm, which is the largest portfolio of a retail park operator in the country.

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