Adventum acquires Tesco properties in Hungary, Czech Republic
Adventum has acquired 18 commercial properties anchored by Tesco stores in Hungary and Czech Republic for around EUR 280 million, the fund manager with units in Valletta and Budapest told state news wire MTI on Wednesday.
The transaction, made through the Adventum Penta fund, is Adventum's biggest ever and brings the fund manager's portfolio to EUR 1 billion.
A consortium of Hungary's OTP Bank and Austrian-owned Erste Group provided a EUR 150 mln credit line for the acquisition.
With the deal, Adventum's portfolio of commercial property has expanded by 360,000 sqm to 700,000 sqm.
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