Novaston, a unique real estate management and marketing platform, has expanded its services to the Croatian market. The firm has been appointed by Austrian investor Immofinanz to manage its recently acquired retail parks in Osijek and Valpovo.
The two retail parks have nearly 13,500 of rentable space in total and were acquired from Austrian based company MID Group in the last quarter of 2018.
Read the full article about the Immofinanz - MID Group retail park acquisitions HERE.
IMMOFINANZ AND NOVASTON LONG TERM PARTNERSHIP
The Novaston platform, which consists of four companies (Novaston Asset Management, Novaston Project Management, Novaston Facility Management and Novaston Marketing Consultancy), has been successfully working with Immofinanz in Serbia for the past five years.
Novaston companies operate and provide asset, property, facility, project and marketing services to Immofinanz's six STOP SHOP retail parks in Serbia, while from August this year they will take on one more STOP SHOP retail park in Sremska Mitrovica.
Due to their long term successful partnership, Novaston has the experience and knowledge to re-brand and manage the newly acquired properties in Croatia.
“Cooperation with our long-term partner and client Immofinanz has proven to be very successful in the past. After the setup, operative and marketing services of STOP SHOP retail parks in Serbia, Novaston was trusted with the development and upgrade of their recently acquired retail parks in Croatia.
The first task is to re-brand the existing retail parks, a process which will be in the capable hands of our company Novaston Project Management.
Further on, it’s necessary to create and adapt a long term (re)leasing strategy, taking into account the current tenant mix and market situation, which will be overseen by Novaston Asset Management.
Novaston Marketing Consultancy team will be in charge of all advertising activities, with the goal of creating a stronger reputation and attracting additional visitors.
Of course, another challenge is the process of implementing our operating system to maximize the value of the retail parks, while simultaneously taking into account the legal obligations and regulations in Croatia” - said Mia Zečević, CEO of Novaston.
NOVASTON MAKING HEADLINES
Mia Zečević also stated the new mandate by Immofinanz is just another step towards the expansion of the Novaston platform in the region. Since the beginning of the year Novaston has been appointed by many prominent retail and real estate clients.
Take a look at the top recent partnerships Novaston has established below: