DRFG acquires up a dozen new Czech retail parks

In the latest show of strength by Czech investment groups, DRFG has acquired 12 retail parks from the Hunter group who primary anchor tenants are Penny, Billa and Albert. According to the daily E15, the assets are spread across the country including locations such as Černý Most, České Budějovice and Pilsen. The deal extends DRFG's portfolio to 150,000 sqm and its sales director Josef Musil claims the company has another 15,000 sqm of space under construction. E15 quotes Jiří Kristek of Cushman & Wakefield who says the deal confirms the popularity of this asset class. "At the moment, there's strong demand for shopping parks among investors," he said. "This year there have been several deals completed and others are in negotiations on several interesting transactions in which shopping parks across the country are being sold."