Key Facts | |
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Location | Siófok, Vak Bottyán u. 31, 8600 Hungary |
Deal type | Acquisition and bank restructuring |
Closing date | Dec 2013 |
Origination | Direct from shareholder |
Status | Under management |
Origination
- Direct from shareholder
Ownership
- Held by Fund I
Role
- Acquired 100% shareholding as part of an agreed restructuring agreement with bank
Value Creation
- Generated cash flow used to de-lever assets
- Improvement of locally managed assets to stabilise rental income and confirm lease renewals
- Investments in tenant improvements and marketing attract new tenants
- Transform to institutional grade investment
Property Type
- 7 ground floor units with gross leasable area of 4,624 m2 (49,772 sq ft)
See property website for further details: parkcenters.hu