Focus Estate Fund, an investment fund specializing in value-add non-prime convenience retail assets across UK, Western and Central Europe, is pleased to announce the acquisition of BariMax Shopping Village, a retail park located in the northern part of Bari city, Italy. This transaction marks a strategic entry into the southern Italian market, complementing the Fund’s growing portfolio in key European regions.
BariMax Shopping Village features approximately 18,785 square meters of gross leasable area across 14 tenant units. The retail park features a strong tenant mix anchored by FAMILA supermarket, alongside Sinsay, Happy Casa, Kartodromo BariMax go-karting, OVS, Cisalfa, and Prenatal children’s store. The asset benefits from the excellent accessibility with direct frontage on the SS16 Adriatica state road, close proximity to the Bari ring road, and an international airport within an 8 km radius.
The park is a well-established retail destination with strong management, excellent occupancy levels, and a solid track record of performance. This portfolio addition offers a weighted average unexpired lease term (WAULT) of approximately 8.4 years, highlighting its long-term stability and secure income profile.
“This acquisition represents a significant milestone for the Fund as we continue to diversify and expand across Europe. Entering the Italian market marks an important step in our long-term growth strategy. Bari offers compelling fundamentals with its strong retail demand and favorable demographics, and we see great potential to further enhance and solidify BariMax Shopping Village as a top-performing retail destination. We would like to thank Pradera and Banco BPM, who were represented by Legance, for their pragmatic and highly professional approach as well as our advisors from BDO and Gleeds who helped orchastrate the deal. Building on our established expertise in Poland, the UK and the Czech Republic, we are looking to further expand across continental Europe, with a focus on Spain, Portugal, France, and beyond” said Maxim Shkolnick, General Partner of Focus Estate Fund.
“We are pleased to have supported this successful transaction and are delighted to be retained by Focus Estate Fund as asset managers of BariMax Shopping Village. We look forward to working together to ensure the continued strong performance of this well-established retail destination” said Stefania Emanuele, Joint Head of Pradera Management Italy.
With this acquisition, Focus Estate Fund’s portfolio now includes 13 retail assets across Europe with a combined Gross Leasable Area (GLA) of approximately 220,000 square meters:
– 10 assets in Poland, where the Fund steadily expands its presence,
– 2 assets in the United Kingdom, including Island Green Retail Park in Wrexham and Kingdom Shopping Centre in Glenrothes,
– and its first asset in Italy, marking an important step in tapping the Southern European market.
Focus Estate Fund is a Luxembourg based private equity real estate investment fund focusing on non-prime value-added retail properties. The Fund’s strategy is to invest in the existing mid-market convenience retail properties across UK, Western and Central Europe.
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A carefully curated selection of mid-scale commercial properties across Western and Central Europe, strategically acquired and managed to maximize value and long-term growth.
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Strategic investments in mid-scale retail properties with a disciplined focus on value creation. Our hands-on approach, deep market expertise, and strong local partnerships ensure sustainable growth and optimal returns for our investors.
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