ECE Real Estate Partners and Bonitas Investment Fund Management have completed the sale of Árkád Szeged shopping centre in Hungary from ECE European Prime Shopping Centre Fund II to HOME Ingatlanfejlesztő Alap, a Hungarian real estate fund.
HOME Fund’s largest investor is Unity Asset Management Foundation, which serves as the family office of the Csányi Family. The acquisition provides HOME Fund with a retail asset in a prime downtown location with access via the city’s ring road.
Árkád Szeged comprises approximately 42,000sq m of gross leasable area and 122 shops. The centre attracts approximately 16,700 visitors per day and maintains high occupancy rates.
“With the sale of Árkád Szeged, we have completed the first asset disposal from the ECE European Prime Shopping Centre Fund II,” said Christian Müller, Principal at ECE Real Estate Partners. “Since acquiring the centre in 2018, we have consistently executed our value-add strategy, further enhancing its attractiveness and performance.”
Gábor Marosi, Chief Executive Officer of Unity Asset Management Foundation, said: “We are proud to complete the largest retail real estate transaction in Hungary in the past three years. Árkád Szeged is not only one of the most modern shopping centres in the country and the second-largest mall outside of Budapest, but it will also serve as a strategic asset for Unity.”
