Erste Ingatlan Alap acquired Market Central Ferihegy
Erste Ingatlan Alap acquired Market Central Ferihegy, a retail park offering 44,000 sq. m. of leasable space in Budapest, as well as the adjacent Quadrum office complex at the end of last year.
The transaction was facilitated for the company’s real estate funds to meet its targeted property investment ratio. Market Central Ferihegy is 98 percent leased to a diverse mix of tenants. The U-shaped property accommodates a 15,435 sq. m. Tesco hypermarket and a Praktiker hardware store as well as 1,550 ground-level parking spaces. The sale of Market Central Ferihegy was brokered by CBRE on behalf of the seller, whose name was not disclosed. The deal represented a unique transaction, because the property, managed by Whitestar Real Estate, has never been sold since it was delivered. The cost of the deal was not disclosed. “The acquisition of the retail shopping center Market Central Ferihegy is considered a strategic milestone and is in line with our objective of adding decisive retail shopping centers to Erste Ingatlan Alap’s real estate portfolio. The acquisition of Market Central ensures a steady income that is sustainable in the long-run, serving the interests of our customers splendidly,” said Balázs Pázmány, chairman of the managing board at Erste Asset Management. 2018-01-15 11:05
MCAP Global Finance acquires Népliget Center in BudapestMCAP Global Finance (UK) LLP, the London subsidiary of the New York-based global investment manager Marathon Asset Management, acting on behalf of its funds and managed accounts, has acquired the Népliget Center office building. The buyer was advised by Lodge & Partners, which will oversee the asset management of the building. The cost of the deal was not disclosed. The building offers 28,300 sq. m. of primarily class A office space as well as 450 parking spaces. Tenants include Ericsson, DHL, Philips, and the Hungarian National Railway. “We are delighted to have acquired Népliget Center, our first acquisition in Hungary and within the CEE region. This is an excellent asset with good property fundamentals including exceptional access to Budapest’s public transportation network,” said Klaus Schmid, director of MCAP Global Finance. ”As part of our business plan, we aim to optimize the building and have identified opportunities to further enhance our current and future high-quality tenant occupation.” 2018-01-11 10:0