Industrial and retail assets sold in Q1 2013

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Category: News
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Publication date: 22 August 2013
Industrial and retail assets sold in Q1 2013

 73 million Euro was transacted on the Hungarian real estate investment market in Q1 2013 according to the international property advisor Jones Lang LaSalle.

During the first quarter of 2013 only two transactions were concluded with a total investment volume of €73 million. One of these two transactions was not an institutional investment while the other was an off-market deal. The disposal of the Match and Profi retail units continued and, as a result, more than 60 units were transacted at a value of around €15 million for mainly local, private food retailers or investors. ProLogis and Norges Bank Investment Management formed a joint venture at the end of 2012 and as part of the deal, the 50% of ownership of several Hungarian properties were sold to Norges. Altogether 18 distribution centres were involved in the deal with a value of €57.7 million.

According to the forecasts of Jones Lang LaSalle, the annual transactional volume will be around €300 million in 2013, reflecting a growth year-on-year. However, it is important to point out that this volume would include two large off-market transactions to the value of nearly €150 million.

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