ING Ready To Sell Rest Of Allee Shopping Mall In Budapest
- 16 Feb 2012 8:00 AM
"ING Real Estate Development is ready to sell its remaining 50% holding in Budapest shopping mall Allee, according to PropertyEU magazine. Allianz Real Estate Germany paid €100 million in January 2010 for a 50% stake in the 11th District shopping centre, in its first investment outside Germany.
As the shopping mall has been successful in its first two years, ING might demand more for the remaining stake, PropertyEU wrote.
ING has approached several potential purchasers but did not name them. Allianz did not comment."
Source: Hungary Around the Clock
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