Behringer Harvard invests in CEE

Deals

Behringer Harvard Opportunity REIT I Inc., the investment platform of Behringer Harvard, is investing in a portfolio of 15 retail and industrial properties located in the Czech Republic, Poland and Slovakia.

The transaction is part of a joint-venture between the Addison-based commercial real estate investment firm and the St. Wenceslas Property Fund, managed by Edinburgh, Scotland-based Hunter Property Fund Management Inc. Behringer Harvard says the joint-venture was created in response to investors’ growing demand for strategic opportunities in Central Europe’s emerging markets.

The portfolio of 15 assets includes several well-known European grocery retailers and Unomedical, a Denmark-based medical device supplier. In a press statement, Behringer Harvard said beyond the pure growth and expansion of the REIT, it’s also seeking to acquire smaller assets that would not attract institutional buyers individually.

Sam Gillespie, COO of Behringer Harvard Opportunity REIT I Inc., added, “We intend to pursue additional acquisitions targeting both retail and industrial assets in Central Europe, including properties in Hungary and other countries already represented in the portfolio. We’ll focus on new retail developments with creditworthy tenants. We’ll also consider industrial assets located near major transportation hubs with existing tenants holding long-term leases.” (Dallas Business Journal)

ADVERTISEMENT

European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.