Mitiska, the real estate investment management firm specializing in European retail parks, finalized fundraising for its First Retail International 2 (FRI 2) fund. The €233 million final close beat the fund's original hard-cap – €200 million – and far surpassed the initial target of €120 million to €150 million. Investments will be made into European retail parks, with €60 million already deployed into investments in Spain, Romania, Poland and the Czech Republic. Future investment opportunities in Germany, France, Spain and Austria are also being considered by Mitiska.
Re-ups accounted for 40 percent of the fund's investor base, with the remaining 60 percent coming from Belgian, French, Swiss and United Kingdom-based LPs. More than 7 percent of the final committed amount came from the Mitiska team.
First Retail International 1, the fund's predecessor, was launched in 2013 and consists of 19 retail park properties across Belgium, France, Poland, Serbia, Romania and the Czech Republic.