Origination


  • Direct from shareholder

Ownership


  • Equity provided by Fund 1

Role


  • Acquired 100% shareholding as part of and agreed restructuring agreement with bank

Value Creation


  • Generated cash flow used to de-level assets
  • Improvement of locally managed assets to stabilise rental income and confirm lease renewals
  • Investments in tenant improvements and marketing to attract new tenants
  • Onward sale of non-core assets
  • Transform to institutional grade investment

Property Type


  • Retail 203,746 square feets (18,928 m2) real estate comprising:

        4 retail parks
        3 stand alone
        Located in peripheral cities

See property website for further details: www.parkcenters.hu

Key Facts
Location Hungary (multiple locations)
Deal type Debt work-out/ debt restructuring/ stabilisation
Property type Retail portfolios with 18,928 m2 across 7 individual assets
Closing date 2013
Origination Direct from Bank
Status Under management