One of the most significant transactions in Hungary’s commercial real estate market was officially completed at the end of February. The Gránit Alapkezelő-managed Magyar Posta Takarék Real Estate Investment Fund acquired the Park Center shopping park portfolio from Revetas Capital.
As part of the transaction, eight shopping parks located in Debrecen, Dunaújváros, Miskolc, Mosonmagyaróvár, Nagykanizsa, Siófok, Szekszárd, and Zalaegerszeg, as well as four standalone retail properties with a total leasable area of 45,000 square meters, were transferred to the public real estate fund, which has tens of thousands of investors.
At the same time as the portfolio integration, the fund manager will comprehensively modernize and reposition the network operated under the ZONE Shopping Park brand, one of the largest centrally managed shopping park networks in Hungary.