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Torunlar REIT has acquired two major Turkish shopping centres, Forum Kayseri and Forum Mersin, from Union Investment Real Estate GmbH for EUR 130.4 million and EUR 219.0 million respectively. These acquisitions reinforce the company's retail portfolio and support its long-term growth strategy. Both centres are prominent retail destinations, attracting strong footfall and a mix of global and local brands. The move aligns with Torunlar's ongoing expansion in Turkey's shopping centre market, offering steady rental income and potential capital appreciation.
Torunlar Gayrimenkul Yatrm Ortakl (TRGYO) has strengthened its presence in Turkey's retail real estate market by agreeing to acquire two significant shopping centres from Union Investment Real Estate GmbH. The company finalized a deal to buy 100% of Forum Kayseri for around EUR 130.4 million. In addition, Torunlar REIT completed the acquisition of Forum Mersin for nearly EUR 219.0 million, further expanding its portfolio of retail assets. Advertisement
These moves come as part of TRGYO's broader strategy to enhance its retail holdings and leverage the steady growth of consumer footfall in key Turkish cities. Forum Kayseri and Forum Mersin are both well-established shopping centres, attracting high visitor traffic and housing a mix of international and local retail brands. By adding these assets, Torunlar aims to strengthen rental income streams and benefit from long-term capital appreciation in Turkey's retail sector.
The acquisitions are in line with previous expansions by Torunlar, which has been steadily increasing its footprint in Turkish shopping centres over the past decade. Analysts note that the strategic locations of these centres provide TRGYO with consistent revenue potential, especially as consumer spending in urban areas continues to recover and grow.
Source Reuters
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