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.
01
THE OPPORTUNITY
- Outdated layout on some of the retail floors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
02
THE SOLUTION
- 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
03
THE RESULTS
- 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
MORE STORIES LIKE THIS ONE
FEATURED SERVICES
CAN’T FIND WHAT YOU’RE LOOKING FOR?
Get in touch with one of our professionals.