Erste Property Fund buys Napfény Park

So much for the idea that regional can’t attract investment transactions. Erste Property Fund has purchased  Napfény Park Retail Center in Szeged on a yield that reportedly dipped below 8 percent. Discussions began in 2010 and were finalized in April. The 33,000 sqm center was completed by Carion Group and Trade Invest in 2008 at a cost of HUF 7bn and is described as enjoying an occupancy level that’s constantly over 90 percent (tenants include Tesco). Colliers carried out a valuation of the asset for Carion


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