Adventum International, a Malta based boutique investment fund manager, acquired the 66,000 sqm GLA landmark shopping center in Budapest for its Adventum QUARTUM investment fund.
KÖKI Terminal is strategically situated at the Kőbánya-Kispest junction of the Hungarian capital, which is one of the most important intermodal hubs, serving the X. XIX and XVII. districts of Budapest. The hub is reinforced by subway, train, bus and tram connections and also seated on the route leading to the Airport and M0 ring road.
The shopping center (completed in 2011) is composed of 60,000 sqm retail and 6,000+ sqm office space across 4 storeys. Anchor tenants include OBI, Tesco, Müller, H&M, C&A, Euronics and Hervis.
The transaction – third in the CEE region in just 6 months for the QUARTUM real estate fund – marks yet another milestone event for Adventum: including KÖKI Terminal the fund has now, in total reached 100k leasable sqm in size of assets under management.
Kristóf Bárány, founding partner at Adventum International, commented: “This transaction demonstrates the skillset of Adventum Group, realising a highly complex transaction and the largest retail investment in Hungary for 2019 to date. The project is also Adventum QUARTUM’s flagship undertaking in Hungary and the start of a HUF 6 billion complex refurbishment of KÖKI Terminal. We also would like to take the opportunity to thank all advisors who helped us realize this project as well as the sellers for their constructive approach to the transaction.”
In the transaction, HEA legal, CBRE, Finacont advised the purchaser, Cashline and Jeszenszky law firm the seller.