Allianz linked to ING RE’s Allee

Allee, Budapest’s latest shopping mall (and the only such project to be completed in the city this year) officially opened earlier today in District XI. At the gala event last night, attended by what seemed to be Budapest’s entire real estate community, the chatter in the crowd focused not only on the extravagant party, heavy security and the army of eye-catching hostesses, but also on a likely buyer for the 46,000 sqm development.

According to multiple sources, German investor Allianz is more than a little interested in the property. Talks are said to be well-advanced with Jones Lang LaSalle representing Allianz and Cushman & Wakefield working with ING. Further details remain under wraps, though both parties reportedly hope to have the deal settled in the next few weeks. No one actually involved in the deal is talking about it, however, so confirmation will have to wait, as will guidance on pricing.

The 140 units at Allee have apparently all been let, though a handful still remained closed off and anonymous as of last night’s festivities. Major retailers at the new mall include Zara, H&M, C&A, Electro World, Interspar, Apple and Van Graaf, which is opening its first Hungarian outlet.