The Erste Real Estate Investment Fund has acquired two 42,000 square meters warehouse halls from HelloParks in Páty. The value of the transaction was not disclosed, but it was noted as the largest single transaction in the history of the Hungarian industrial real estate market, with estimates ranging between EUR 85-90 million.
Managed by Erste Alapkezelő Zrt., the Erste Real Estate Investment Fund is currently the largest real estate investment fund in Hungary and has been one of the leading players in the property market for years.
The PT2 and PT3 warehouses were developed in accordance with the requirements of the EU Taxonomy criteria and meet the strictest sustainability standards. They holding a BREEAM Outstanding certification within the New Construction category, which is the most rigorous classification within the BREEAM system and is achieved by less than 3% of buildings worldwide. In Hungary, HelloParks is the only developer of similar industrial properties. Tenants of the two halls include Gebrüder Weiss and Transdanubia.
The HelloParks Páty Megapark spans 87 hectares along the M1 motorway, in the western metropolitan area of Budapest. A total of 384,000 square meters of industrial space is planned for development on the site, with 142,000 square meters already handed over and another 42,000 square meters expected to be delivered later this year.