NEPI Rockcastle acquires Budapest shopping centre for €254m (HU)

NEPI Rockcastle acquires Budapest shopping centre for €254m (HU)

NEPI Rockcastle has acquired 100% of Mammut 2 and 81% of Mammut 1, which jointly form the Mammut shopping centre in Budapest, from global private equity firm Lone Star, for €254m. With this transaction, NEPI Rockcastle becomes the owner of two shopping malls in Budapest, following last year’s purchase of Arena Plaza. The investment is part of NEPI’s strategic plans to enhance its shopping mall portfolio in Central and Eastern Europe (CEE). The company was advised by Dentons.

 

Mammut is the largest shopping and entertainment centre on the Buda side of the city, located at Szell Kalman Square, one of the busiest interchange hubs in Budapest. It comprises 61,300m² of GLA spread over two buildings connected via a double-level pedestrian bridge.

 

"We were very pleased to support our client on this significant transaction,” commented Judit Kovari, head of Dentons’ Real Estate group in Budapest. “This deal is a major real estate transaction for the Hungarian market and is a great example of Dentons’ ability to advise international players on their real estate projects in Hungary.”

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