Cushman & Wakefield wins largest Hungarian Retail Real Estate mandate in 2014 (HU)

Cushman & Wakefield (C&W) the world’s largest privately held commercial real estate services firm, has been appointed to manage and lease the Resideal Retail Portfolio in Hungary comprising 4 regional shopping centers in Pécs, Sopron, Szombathely, Veszprém and to manage a retail park in Zalaegerszeg totalling about 50,000 m² leasable area.
C&W’s Property Management Team will ensure the secure and efficient daily operation of the properties by focusing on the leasing, center management, marketing, finance and technical operations. In addition to the standard property management duties, C&W will optimize the properties occupancy and tenant-mix and ensure the portfolio generates maximum income by utilizing C&W’s on-site and centrally located teams. In partnership with Resideal’s Asset Management, C&W will provide dependable and best of class services to tenants, in order to enhance the properties performances and drive the capital value of the portfolio.
Gergely Pados Managing Partner at C&W in Hungary said: “We are delighted to have secured the biggest property management mandate to date this year in Hungary. We are confident in enhancing these assets with our strong retail and property management experience, and that our new approach will drive income and values across the portfolio. Our mandate will be delivered by utilising the C&W systems and technology platforms, providing quality services supported by innovative solutions.”
Szabolcs Anselmo, Head of Retail Property Management at C&W in Hungary added: “In such an economically challenging environment with very limited retail developments in both countryside and urban locations, this mandate is an outstanding opportunity. We are delighted that our broad retail property management experience was appreciated by Resideal and a deciding factor in choosing to appoint C&W.”
Source: Cushman & Wakefield