Mitiska REIM finalizes acquisition of seven Belgian Cora hypermarkets

European real estate investor Mitiska REIM has completed the acquisition of seven former Cora hypermarkets and their associated shopping galleries in Belgium. 

Cora hypermarket and galleries in Rocourt

This landmark deal for its MEREP 3 fund and a co-investment vehicle sets the stage for a significant redevelopment project across all locations.
The company plans to transform the sites—in Anderlecht, Woluwe, Rocourt, Hornu, La Louvière, Châtelineau, and Messancy—into modern, sustainable, grocery-anchored retail centers. Each former hypermarket will be redeveloped into multiple new stores, including a full-service supermarket and major retail brands. The first new stores are expected to open in late January 2026.
Mitiska REIM has secured agreements covering over 40% of the redeveloped hypermarket areas and has appointed construction companies to begin refurbishment work on October 1.
During this transition, existing Cora stores will remain open for grocery shopping, while non-food sections will hold liquidation sales. Shops within the shopping galleries will also continue to operate and will be upgraded as part of the broader plan.
To ensure a smooth transition, Galimmo's operations team will join Mitiska REIM to manage the shopping galleries. The company is also working closely with local authorities and current tenants on urban planning and permitting, with a focus on improving accessibility and mobility at each site.
Axel Despriet, managing partner at Mitiska REIM, said: “With the closing of this transaction, we are now entering the transformation phase of these seven sites. We would like to thank our financial partners, as well as the local and regional authorities, for their support in making this possible and in confirming our development strategy.”
Sylvie Geuten-Carpentier, managing partner at Mitiska REIM, added: “Our goal with this transformation plan is to bring in a range of new retailers that complement those already in the galleries. In this way, we aim to create a tenant mix that provides shoppers with convenient access to essential everyday needs in a modern and attractive retail environment. With agreements already secured for more than 40% of the redeveloped space, we are building strong momentum. More new tenants will be announced over the coming weeks.”