NEPI Rockcastle has bought Aréna Plázafor for €275 m from a consortium of private owners advised by CBRE Hungary. The property formerly was owned by Symmetry Arena Ingatlankezelő Kft. The investment is located near Keleti Railway Station and is the second largest retail center in Budapest. The Aréna Pláza is fully leased to such anchor tenants us as Bershka, H&M, IMAX Cinema City, KFC, Massimo Dutti, McDonald’s, Media Markt, New Yorker, Peek & Cloppenburg or Tesco. “The purchase of Arena Pláza is important not only because it represents a complex, landmark deal for the market, but also because another new international source of equity has entered the Hungarian real estate market,” said Tim O’Sullivan MRICS, Head of Capital Markets of CBRE Hungary.
