ADVERTISEMENT

Adventum acquires Tesco properties in Hungary, Czech Republic

Retail

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.

ADVERTISEMENT

Czech economic confidence improves in May Analysis

Czech economic confidence improves in May

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

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.