Allianz closes on Budapests Allee for over €100 million (HU)

Allianz Real Estate Germany GMBH (Allianz) has acquired 50% of Allee Shopping Centre for a price exceeding €100 million. Allee Shopping Centre opened fully leased in November 2009, comprises some 47,000 m² and is anchored by Interspar, Inditex Group, Van Graaf, H&M, C&A and Electroworld as well as a 13-screen cinema. There is an additional 7,000 m² of offices.


Allee Shopping Centre opened fully leased in November 2009.

This is the first major investment transaction seen in the Hungarian capital since the property markets retreated and the first acquisition of a shopping center by Allianz outside Germany.

Allianz was represented by Jones Lang LaSalle.

Benjamin Perez Ellischewitz, Head of Capital markets for Hungary at Jones Lang LaSalle added: "Allee Shopping Centre has ascertained itself as a new leading retail scheme on the Budapest market and we think that Allianz's investment at this point in the cycle was perfect timing."

Source: JLL

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