Acquisition of Seven Retail Sites Confirmed by Stibbe's Involvement
In a significant move, European investor Mitiska REIM has completed the acquisition of seven shopping centers in Brussels, the Walloon region, and parts of France. The acquisition, supported by Allianz Real Estate, marks the start of an ambitious redevelopment programme aimed at transforming these sites into contemporary and sustainable retail units.
The transformation plan, spearheaded by Mitiska REIM, aims to create a diverse tenant mix within the redeveloped shopping centers. Sylvie Geuten-Carpentier, another managing partner at Mitiska REIM, stated that the goal is to bring new retailers to complement existing ones, creating a tenant mix that offers convenient access to everyday needs in a modern and attractive retail environment.
The specific details of the financing arrangements for the acquisition and redevelopment program are not disclosed. However, it is known that renovations will begin at the start of next month, with the first store opening to the public at the end of January 2026.
Mitiska REIM will invest in the sites located in Anderlecht, Rocourt, Woluwe, Hornu, Châtelineau, La Louvière, and Messancy. More than 40% of the redeveloped space already has agreements secured for new tenants, with these new tenants to be announced over the coming weeks.
The newly renovated sites will house several new stores, each containing a full-service supermarket and top retail players. The Stibbe law firm advised Mitiska REIM on their acquisition, providing guidance on due diligence, contract negotiations, financing arrangements, and employment law matters, as well as all legal aspects related to the planned redevelopment program.
However, no additional information about the financing arrangements or legal aspects related to the redevelopment program is provided. Similarly, no specific mention of the number of entities involved in the acquisition is made, nor are the employment law matters advised on by Stibbe detailed further.
Mitiska REIM's managing partner, Axel Despriet, expressed gratitude towards financial partners and local and regional authorities for their support. The successful completion of this transaction confirms Mitiska REIM's strategy, as they continue to invest in and transform retail spaces across Europe.
