MALL VELIKO TARNOVO
Relevant property and Asset Management initiatives
Support of a successful debt restructuring of the asset and helped with repositioning and updating the tenant mix.
- Outdated layout on some of the retail floors
- Decrepit external appearance of the shopping center
- Expiring leases of some of the major tenants
- Competitive local market in terms of retail supply
- We proposed, approved and executed a refreshment of the asset’s exterior
- We successfully extended the leases of anchor tenants, moreover we improved the commercial terms
- We attracted new retailers in the market
- We updated layout of two floors and relocated tenants to allow for extension of the leasing area
- We streamlined communication with the asset owner, enabling faster decision making
- Increased NOI with more than 20%
- Leased out vacant areas, including the additional leasable area we created. Occupancy exceeded 95%
- We fortified the position of the center as the primary retail center in the city
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