June 2021

Korso Karvina, Czech Republic

During June 2021, Korso Karvina was sold to Conseq, a Czech investment fund. The Korso Karvina shopping center was acquired by Bluehouse in 2017 and is the dominant retail destination within its catchment area, being located next to Karvina’s main transport hub.

During the holding period, Bluehouse managed to create value through building upon the shopping centre’s strong fundamentals while converting it into a modern retail destination suitable for a long-term investor seeking well performing stabilized assets.

The leasing strategy included the improvement and further diversification of the tenant mix and product offering. In terms of repositioning, the center was thoroughly redeveloped and revitalized, including reconstruction of the Albert hypermarket, conversion of idle premises into a vibrant food court area, modernization of common areas and refurbishment of most retail stores.