Rodamco Europe N.V., the largest publicly listed property investment and management company in the retail sector in Europe, announces it has sold Rozalia Park, four logistic warehouses, totaling 32,200 m² in Biatorbágy, near Hungarian capital city Budapest, to Immorent International Holding GmbH, for a total price of approximately €17 million, slightly over latest book value.
The logistic warehouses are leased to Rynart Transport and Emery. The divestment is fully in line with Rodamco Europe's strategic sale of offices and other types of non‐retail properties during the last years. The investment strategy of Rodamco Europe is predominantly focused on the retail sector in major European cities. Rodamco Europe is still present in Budapest with 2 shopping center investments, the Europark shopping center and shopping center Arkád Örs Vezér Tér.
Source: Rodamco Europe