Portiva makes CZK 250m debut acquisition in Ivančice

The investment group Portiva has acquired a 5,000 sqm retail park in Ivančice in the south of the Czech Republic from the Austrian development group Aventin. The CZK 250m investment is just the first portion of a CZK 2bn package of retail park that Portiva is due to acquire in the coming years, according to Hospodářské noviny. "We've signaled our entry into the commercial real estate market for a long time," said executive director Pavel Svoreň. "Retail parks and office buildings are interesting for us from the point of view of long-term sustainability. Ivančice represents an important first step that will precede other more significant acquisitions." Portiva owns one office building in Brno but expects real estate to eventually represent one-third of its assets. At the moment, reports HN, the company manages assets worth CZK 3.1bn