The management of this NYSE Euronext Amsterdam-listed closed end property fund was taken over by Arcona Capital in February 2012. A three stage stabilisation and recovery plan was then launched. Between 2012 and 2014 operating costs and vacancy rates were sharply reduced. Between 2014 and 2016 the debt finance was completely restructured. Since 2016 the Fund has doubled in size, increasing its allocations to the convenience retail sector and expanding into Poland, Bulgaria, Romania and Ukraine. In Poland, which is designated as a core market, the Fund´s portfolio comprises 10 neighbourhood shopping centres and a modern office building, all acquired since 2016. Arcona Capital´s asset management team in Warsaw has implemented a new brand concept for the shopping centres and steadily improved the tenant mix since acquisition. The Fund´s Gross Asset Value now exceeds € 90 million.
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