News
KD Funds and Peakside Capital acquire Arkadia shopping centre
(Ljubljana, 5. October 2018) KD Adriatic Value Fund, Special Investment Fund (the “Fund”), the first regulated real estate alternative investment fund (AIF) in Slovenia managed by KD Funds, in partnership with Peakside Capital, an international real estate consultancy company, has completed the acquisition of the Arkadia shopping centre in Domžale for EUR 16.2 million. The purchase will be the third acquisition undertaken by the Fund following the purchase of the Tivoli Centre office building and the south wing of the Stekleni dvor office complex in Ljubljana taking the total consideration invested since April 2018 to EUR 41.9 million.
Located at Virska cesta 21 in Dob pri Domžalah, the Arkadia shopping centre is conveniently situated for access to the Ljubljana–Maribor motorway. Comprising 19 shop units, providing over 11,000 sqm of leasable space and 350 parking spaces, the Centre is fully let to a range of tenants including multinationals such as Spar, Müller, C&A and Hervis.
The investment objective of KD Adriatic Value Fund is to generate returns for investors from rental income and capital growth real estate investments in Slovenia, Croatia and Serbia, with a special focus on office and retail properties. The three target countries represent a region with a relatively undeveloped real estate sector and attractive returns, whilst the long-term success of the fund is further supported by strong economic growth.
Commenting on behalf of KD Funds, Luka Podlogar said: ”With the acquisition of the Arkadia shopping centre, the fund is strengthening its core business and expanding its real estate investment portfolio. This is in line with our strategy of offering SEE real estate as an investable asset for institutional investors”.
Commenting on behalf of Peakside Capital, Tomasz Niezgodzki said: “With its strategic location and strong tenant line up, this asset will complement the income profile of our other investments whilst providing sector diversification.”
-ENDS-
Mateja Stopar (for KD Funds) Tel: +386 1 582 67 78
FTI Consulting (for Peakside Capital)
Dido Laurimore/Tom Gough Tel: +44 020 3727 1000
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Notes to editors:
KD Adriatic Value Fund is a special investment fund established by KD Funds, one of the largest and oldest asset managers in South-East Europe (SEE), in partnership with Peakside Capital, an independent real estate investment manager firm. This is the first regulated real estate alternative investment fund in Slovenia. To date, it has raised commitments from regional institutional investors, giving it a buying power of EUR 50 million.
Founded in 1994, KD Funds is one of the largest and oldest asset managers in SEE. Together with its subsidiaries, it manages around EUR 800 million in 34 funds and 13 investment mandates across the SEE region, including the oldest mutual funds in Slovenia and Croatia.
Peakside Capital is a specialist European Investment Manager, owned by its management. It manages real estate assets currently totalling over EUR 1 billion in gross asset value with a focus on CEE and Germany. The company has offices in Frankfurt, Munich, Zug (CH), Warsaw, Prague and Luxembourg. Peakside Capital provides fund management and investment advisory services for managed portfolios that include its four real estate funds and a significant number of separate account investments. The investment strategies it pursues serve the individual requirements of its investors, and range from core to opportunistic across the office, residential, hotel and retail sectors. The investment spectrum comprises investments in single assets and portfolios through to distressed debt and investments in real estate operating companies.