International consortium acquires Budapest retail, office properties

Awards

An international investment consortium has acquired a property portfolio comprising Budapest始s MOM Park shopping centre and MOM Park Offices as well as the Westend Business Center and EMKE office buildings, Hungarian real estate developer Wing, a member of the consortium told Hungarian news agency MTI yesterday. 

The transaction, closed on July 31, is financed by Germany始s PBB bank and Austria始s Erste Group. The other members of the consortium are the US Morgan Stanley始s real estate investment arm Morgan Stanley Real Estate Investing and Austria始s shopping centre specialist CC Real.

The online version of business daily Vilaggazdasag said the property portfolio has been purchased from a fund managed by AEW Europe. The paper has learnt that PBB Deutsche Pfandbriefbank and the Erste Group are providing a EUR 126m credit limit to Morgan Stanley Real Estate Investing.

ADVERTISEMENT

Gen Gov't Finishes January Close to HUF 144 bln in the Red Debt

Gen Gov't Finishes January Close to HUF 144 bln in the Red

IMF Urges Hungarian Authorities to Carry out Structural Refo... Government

IMF Urges Hungarian Authorities to Carry out Structural Refo...

Futureal Integrates Commercial Development, Asset Management... Residential

Futureal Integrates Commercial Development, Asset Management...

Nyugati Renovation Continuing City

Nyugati Renovation Continuing

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.