Investment manager WP Carey is providing a €41m finance package for three bespoke big-box retail developments in Croatia to be occupied by Konzum, the country’s largest supermarket chain.
The funds will cover the entire construction costs of the three buildings.
Austrian developer BOP is building the three units and WP Carey is providing the finance through its publicly held, non-traded REIT affiliate CPA:17.
Konzum is a member of the Agrokor Group, the largest private company in Croatia whose core businesses are food and drink production and distribution.
The deal is WP Carey’s second construction finance project in eastern Europe in the past 12 months and its third long-term investment involving Agrokor.
Investment manager WP Carey is providing a €41m finance package for three bespoke big-box retail developments in Croatia to be occupied by Konzum, the country’s largest supermarket chain. The funds will cover the entire construction costs of the three buildings. Austrian developer BOP is building the three units and WP Carey is providing the finance through its publicly held, non-traded REIT affiliate CPA:17. Konzum is a member of the Agrokor Group, the largest private company in Croatia whose core businesses are food and drink production and distribution. The deal is WP Carey’s second construction finance project in eastern Europe in the past 12 months and its third long-term investment involving Agrokor.
