January 14, 2010, 10:58 CET
ING sells half of Budapest shopping centre for €100 million
ING Real Estate Development has agreed to sell a 50pc stake in a recently opened shopping centre in Budapest to Allianz Real Estate Germany for about EUR 100m, the two companies told MTI on Wednesday.
ING Real Estate Development will continue to hold the remaining 50pc stake as well as act as asset manager for the property.
The shopping centre, called Allee, has 47,000 square metres of retail and entertainment space and 7,000 square metres of office space.
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Last time I was there it was pretty quiet. Sounds
like ING did a good deal.
Benny - quite probable someone in Allianz did a good deal (after hours, of course).