AEW Europe has sold its real estate portfolio in Hungary



Hungarian real estate assets are back as a target for international investors after years of limited activity.
MOM Park Hungary

European real estate investment manager AEW Europe announced the disposal of its Hungarian real estate portfolio to a joint venture between Morgan Stanley, local developer Wing and Austrian retail developer CC Real. 
The agreed price for the portfolio remains confidential; however JLL can reveal that this deal represents the largest sale in Hungary since the 50% sale of Budapest’s Allee shopping centre to Allianz Real Estate Germany for around €100m in 2010.

The portfolio consists of the 49,000 sq m MOM Park shopping center and office building located in Budapest’s affluent 12th district; the 27,400 sq m West End Business Centre located next to the city centre on Váci corridor, Budapest’s largest office submarket; and the 13,300 sq m EMKE office building located on the Pest side of the Danube river, in the heart of the city’s lively business district.

Hungary was hit hard during the global financial crisis and struggled to regain momentum in the following years. The country’s total commercial real estate transaction volumes fell steeply from €2bn in 2007 to a low of €146m in 2012. The pace picked up in 2014 with annual volumes of €580 million and in H1 2015 total transaction volumes reached some €280 million. Annual investment volumes in 2015 are expected to exceed 2014 volumes by 20-30%.

Related shopping malls and stores:

More about shopping malls in Hungary



YESTERDAY, USA:
Families will be able to participate in a 10-minute interactive video tour of Cane Institute at the North Pole for only $20.
YESTERDAY, USA:
Retail Ecommerce Ventures (REV), which owns Pier 1, Dressbarn, and Modell's Sporting Goods, will buy the bankrupt Stein Mart chain of department stores.
YESTERDAY, United Kingdom:
Iceland supermarket chain is ready to support distribution by its logistics chain for frozen food.
YESTERDAY, United Kingdom:
Debenhams, Primark, and Marks&Spencer were able to receive a record number of customers.
DAY BEFORE YESTERDAY, United Kingdom:
The retailer decided the day after the bankruptcy of the primary tenant - the owner of Topshop brand.
DAY BEFORE YESTERDAY, USA:
Sephora stores will open in department stores of about 115 square meters.
Friend
and Follow
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Madrid Xanadú GLA:1 184 030 SF
ADDRESS: Autovía A5, salidas 22 y 25 - 28939
Spain . Madrid
Madrid Xanadú
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us