HB Reavis’ Central Europe Real Estate Fund (CEREIF or the Fund) has sold its retail asset, Aupark Piestany in Slovakia, to New Europe Property Investments (NEPI) for €39.5 million. The shopping centre, totalling 10,000 sq m of GLA and 380 parking spaces, is home to brands such as CCC Shoes, Mango, Orsay and New Yorker.
The sale of Aupark Piestany reflects the Fund’s divestment approach. The recent transactions clearly show an increased interest in Slovak retail properties coming from renowned international players, which has been valuable for the Funds´ investors,
said Peter Grančič, Fund Director of HB Reavis CEREIF.
The completion of a third transaction with such a reputable player as NEPI is a true recognition of the level of quality of the asset, as well as the high level of the asset management service provided by the HB Reavis Group to the Fund’s investors,
added Marian Herman, CFO of HB Reavis Group.
We have already started work on the acquisition of a new asset outside of Slovakia, which we aim to complete before the end of this year.