TREI Real Estate sold a portfolio of 40 supermarkets, exceeding 39,500 sqm, to Erste Asset Management. All but two of the properties are leased to Spar Hungary on a long-term basis. The price of the deal was not disclosed. Colliers International supported TREI Real Estate in the transaction, while CMS Cameron McKenna provided legal advice.
“This is an important step in achieving our strategic goals. Besides consolidating in a smaller number of countries, focus has shifted more towards development of residential properties as well as retail parks. With the sale of our portfolios in Austria and Hungary as well as the sale of the entire logistics portfolio in the last two and a half years, the company’s focus now once again is on growth” says Pepijn Morshuis, CEO of TREI Real Estate GmbH, part of the Tengelmann Group.
