Successful sale of the real estate portfolio in Hungary
Trei Real Estate GmbH sold its real estate portfolio consisting of a total of 40 supermarkets in Hungary to Erste Asset Management GmbH. With this transaction Trei Real Estate has effectively consolidated its real estate operations in the eastern European country, therefore pushing the realignment of its overall portfolio. “The sale of our real estate assets in Hungary follows the discontinuation of our operations in Austria in 2015, as well as the sale of our entire logistics portfolio within the past two-and-a-half years. That means the company’s focus is once again on growth”, says Pepijn Morshuis, CEO of Trei Real Estate GmbH. With the exception of two assets, all elements of the sold portfolio are under long-term leases to Spar Hungary – with a total area of more than 39,500 m², including 13 locations in the capital city of Budapest. Colliers International and CMS Cameron McKenna LLP supported Trei Real Estate as consulting partners throughout the entire transaction.
The goal of the sweeping portfolio realignment is for Trei to develop from a real estate management company into a value-creating enterprise that develops and expands its portfolio for its own assets. “The sale of the real estate in Hungary is an important contribution to achieving our strategic goals. We see the focus of our future projects in residential real estate in Germany, the Czech Republic and the USA, as well as the development of specialist retail centres in Poland and the Czech Republic”, says Morshuis. Just this past April Trei Real Estate opened its first student apartment complex, under the brand name “Quartillion” in Cologne-Ehrenfeld, where all of the apartments are already leased.