Focus Estate Fund acquired Most Retail Park from TK Development. The 6,471 sqm property is located in the city of Most, about 70 km northwest of Prague. This is the fund’s third investment in European commercial real estate. The investment fund previously bought Ostrava Retail Park in the Czech Republic and Galeria Sandomierz in Sandomierz, southeastern Poland. Cushman & Wakefield is overseeing leasing at Most Retail Park, which has a relatively high vacancy rate. Focus Estate Fund plans to redesign the property and increase the profit margin to 12-15 percent. TK Development was represented by Dentons. The buyer was backed by Kocián Šolc Balaštík, KYHOS Real Estate and BDO and the funding was partly secured from Raiffeisen Bank.
