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Czech Republic/Hungary Adventum hits billion mark

Investment & finance
Adventum Group’s acquisition of a 360,000 sqm gla portfolio of 18 retail parks anchored by Tesco across Hungary and the Czech Republic has now been finalised. With this transaction, Adventum’s assets under management have reached EUR 1 bln.

The approximately EUR 280 mln transaction, which Eurobuild announced in April, is the largest deal so far by Adventum. The group intends to implement a refurbishment programme to enhance the ESG profile of the assets and also to diversify the tenant mix.

Despite the uncertainty on the global capital markets over the past months, our commitment to complete this transaction has
always been supported by our investors and financing banks. In unprecedented times of market turbulence, this food-anchored retail park portfolio offers a safe haven for Adventum’s investors seeking inflation-adjusted returns and robust cash flows.
Kristóf Bárány, a founding partner of Adventum

A banking consortium of OTP Bank and Erste Group (Erste Group Bank and Erste Bank Hungary) is providing a EUR 150 mln acquisition loan to finance the acquisition of the portfolio.

Deloitte’s legal and advisory teams assisted Adventum during the transaction. Law firm Hümpfner, Eston Savills and CBRE also supported the buyer. CMS provided legal advice to the banks involved in the transaction.

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