The Target Center shopping park has changed hands

By: Trademagazin editor Date: 2020. 10. 27. 11:22

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The Target Center shopping park in Kecskemét has a new owner – portfolio.hu wrote. A Hungarian real estate fund bought the retail center of the county seat. The investment transaction was carried out by real estate consultant VLK Cresa, the company has played a key role in several significant sales this year and is preparing further ones.

Although it is more difficult to operate during the pandemic period, lasting for several months, investors are intensively looking for good products and appear to find them. Such a transaction has now been completed in Kecskemét. The approximately 23.5 thousand square meter Target Center shopping mall (“strip mall”) changed hands. The buyer is a real estate fund in Hungary, which already has similar commercial properties in its portfolio. Despite the relatively difficult market conditions, they managed to conclude the sale agreement with the seller’s group of foreign-owned investors at a yield corresponding to the average of the last 12 months. (portfolio.hu)