CMS Belgrade has advised the sell-side, Britain’s Poseidon Group and Belgium’s Mitiska REIM, on the divestment of Capitol Park Rakovica, the largest retail park in Belgrade, to Israel’s BIG CEE Group.
The transaction closed in December 2019.
EUR 30 million was invested in Capitol Park Rakovica since its opening in October 2017. On more than 23,000 sqm of sales space occupying a 6 ha plot, it is the first shopping and leisure destination in the municipality of Rakovica, including 40 tenants and the Cine Grand cinema.
Partners Marija Tešić and Ivan Gazdić led the CMS Belgrade team providing legal advice for the transaction, with valuable support from Vienna partner Alexander Rakosi, Belgrade partner Maja Stepanović and attorney-at-law Igor Đorđević.
About Poseidon Group
The Capitol Park brand is part of a property portfolio owned, developed and managed by Poseidon Group, comprising more than 310,000 sqm of built and managed retail outlets across SE Europe, and more than 1,000 residential buildings in planning and construction. With its SEE local teams and network of offices in Bosnia and Herzegovina, Croatia, Serbia and Slovenia, Poseidon Group strives to become the leading regional retail park operator. Established in 2001 in London, it employs more than 200 people globally. Currently valued at EUR 1.2 billion, the Group is actively exploring co-investment partnerships in its UK and SEE projects with investors worldwide.