Revetas Capital’s Retail Portfolio reaches 97 percent occupancy in Hungary

Revetas Capital announced that it has achieved an occupancy rate of 97 percent in Park Center, its retail portfolio of 12 properties in Hungary.

Following successful lease transactions in Miskolc and Debrecen with one of the leading retailers in the non-food sector, the total occupied area increased to over 44,600 sqm across the portfolio.

In 2013, Revetas Capital completed the successful acquisition of the investment portfolio in Hungary, comprising 12 retail neighbourhood shopping centres with a total area of over 45,000 sqm, which were successfully rebranded as Park Center Hungary retail parks.

Eric Assimakopoulos, Founding Partner Revetas Capital, commented: “The Gaudi portfolio was one of the most ambitious investments we made in 2013 and a prime example of resilience and value-enhancing intensive asset management for our investors. During the holding period, we navigated one of the most challenging decades for retail as an asset class, additionally intensified by the dynamics of the following economic downturn triggered by the Global Financial Crisis and the massive traffic and operational restrictions imposed by the COVID 19 pandemic, and we are proud of the team’s results despite the current context.”