GROWTH IN RETURNS
Europe investments pay off for MAS Real Estate
The Europe-focused company’s income-generating property portfolio grew 67.5% during the reporting period
Europe-focused MAS Real Estate CEO Lukas Nakos says the company has had a "seamless transition expanding its operations into Eastern Europe" and has managed to achieve significant growth in returns for its investors. The company reported on Monday that it grew its distributions 19.3% in the six months to December compared with the same period in 2015. MAS made its first direct investment into Eastern Europe during the reporting period, by acquiring Nova Park shopping centre in Gorzów Wielkopolski, for €88.5m. The group’s investment property portfolio grew 50% since the end of June 2015. Its income-generating property portfolio grew 67.5%, from €242.63m, to €406.44m during the reporting period, with the acquisition of the Nova Park mall in Poland, Edeka MIHA’s retail portfolio in Germany and a Munich logistics property, as well as the completion of MAS’s Adagio hotel at New Waverley in Edinburgh. "We took the decision to invest in Eastern Europe in joint ventures with Prime Kapital a...
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