The BT Property Alternative Investment Fund made its debut this month on the retail market with the acquisition of Funshop Park Turda (Cluj) from the Polish group Scallier. This is a retail park with over 9,000 sqm of leasable area and BREEAM certified buildings, according to international standards.
AIF Imobiliar BT Property, managed by BT Asset Management SAI SA, a company of Banca Transilvania Financial Group, is intended for professional investors and is established for an indefinite period.
On this occasion, Dan Dascăl, CEO of BT Asset Management, made a few statements for the publication economica.net:
- At the moment, we are focused on the acquisition of the Funshop Park Turda project through the BT Property Alternative Investment Fund, but we do not exclude the extension of our interest to other projects developed in the country, including Scallier.
- The Funshop Park Turda project, a retail park, has all the necessary assets: it is a very good location, has over 9,000 sqm of leasable area, an optimal tenant mix and BREEM certified buildings. Equally important, BT Asset Management's collaboration with Scallier for the acquisition of the retail park has been very good at all stages.
- From what we can see, the retail market is one of the most dynamic in Romania, with multiple opportunities for expansion. On the other hand, it is the sector that offers investors one of the most attractive returns for investors.
- We plan to expand the retail portfolio, which is one of the pillars of our growth strategy, but the amount of investment in this area will depend on several variables, such as market trends or investor appetite.
- FIA Imobiliar BT Property also owns an office building, commercial premises and medical buildings. These are premium properties in Romania, with a leasable area of over 40,000 sqm. As investments, we are looking at several areas - retail, special purpose buildings (medical/educational), office, logistics.
- If I refer to the criteria we take into account when targeting a project, they relate to location, technical characteristics - where the ESG part plays an important role -, tenant mix and yield.
