"This week ING Real Estate announced its purchase, from Compagnie Immobilière de Belgique, of Budapest's Campona shopping mall - the two-story shopping mall situated 11 kilometres southwest from downtown Budapest, which features 145 stores, 97% of which are currently rented out to names including C&A, H&M, Electro World, Hervis and Tesco.The property was obtained by ING Propety Fund Central and Eastern Europe, a closed ended property fund launched in April 2004 and investing in retail and office properties in Central Europe.
The fund is focusing on core and value-added real estate investments in Poland, the Czech Republic, Hungary, Slovakia, Romania and Austria, particularly in the retail sector.
The Tesco hypermarket is an integral part of the mall, but is not part of the transaction.
The building also has an 11-room movie theatre.
Other international companies present in the mall include McDonalds, Orsay, Springfield, Douglas, Bijou Brigitte and Promod.
The gross rentable area of Campona is 39,387 square metres (excluding the hypermarket) and a three-story parking lot with 1,500 spaces."
Source: Portfolio Online Financial Journal
07.12.2007