Forum Nová Karolina

— Ostrava, Czech Republic

Portfolio Project

Acquisition date:

27 September, 2011

Asset type:

Retail

Square metres:

58,000 sq. m.

Key occupants:

H&M, Marks & Spencer, Intersport, New Yorker, Peek & Cloppenburg

Ostrava is the third largest city in the Czech Republic near its border with Poland, and a major administrative, financial and industrial centre.

Located near the Czech Republic’s eastern border with Poland, Ostrava is the third largest city in a country whose economy has been resilient since the Global Financial Crisis. The city is a major administrative, financial and industrial centre for the region, particularly for the steel and automotive sectors.

Built by one of Europe’s most experienced retail developers to the designs of renowned architect Rem Koolhaas, this 58,000 sq.m. centre opened in March 2012 and has established itself as the region’s dominant shopping destination.

The BREEAM-rated energy efficient building has four storeys above ground level. It has 247 retail units occupied by a mix of local and international high street brands, a multiplex cinema and food court. There is underground parking for 1,600 vehicles spread over two levels.

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This is a landmark development for HOOPP, as it is our first retail development in Europe. This investment is an excellent fit with our strategic long-term objective of providing the pension to more than 260,000 working and retired healthcare workers.

Lisa Lafave, Senior Portfolio Manager, Real Estate for the Healthcare of Ontario Pension Plan,