ACQUISITION OF MAMMUT SHOPPING CENTRE IN BUDAPEST, HUNGARY

Mammut is one of the largest and most successful shopping and entertainment destinations in Budapest. It is prominently located at Kalman Square, the busiest interchange hub in the Buda side of the city, and benefits from a strong annual footfall of 15.6 million people. Kalman square is the busiest transport hub in Buda, has a daily traffic of more than 23,000 vehicles. The public transport junction (metro, tram, bus) delivers more than 460,000 passengers every day. The Shopping Centre offers 61,300 m2 of total gross lettable area (“GLA”) in two buildings connected via a double-level pedestrian bridge.
With a GLA of 56,400 m2 (weighted for control), the Project is 89% let, including key anchors such as Cinema Pink, Hervis, H&M, Interspar, Media Markt and Reserved, as well as a New Yorker which is opening in November 2018.
Made up of 300 shops, Mammut is divided into Mammut 1 and Mammut Il. The two malls are connected by one glass hallway on the second floor. There is a food court, restaurants, the cinema, bowling and lots of shopping. Its stylish and huge, servicing the higher end of Buda's inhabitants.
The acquisition entities together own 100% of Mammut 2 and 81% of Mammut 1, respectively. The Mammut 1 shopping center was completed on 28 August 1998 and Mammut 2 was issued on 28 September 2001.
Name of the deal ACQUISITION OF MAMMUT SHOPPING CENTRE IN BUDAPEST, HUNGARY
Information about the transaction project/projects/portfolio Mammut is one of the largest and most successful shopping and entertainment destinations in Budapest. It is prominently located at Kalman Square, the busiest interchange hub in the Buda side of the city, and benefits from a strong annual footfall of 15.6 million people. Kalman square is the busiest transport hub in Buda, has a daily traffic of more than 23,000 vehicles. The public transport junction (metro, tram, bus) delivers more than 460,000 passengers every day. The Shopping Centre offers 61,300 m2 of total gross lettable area (“GLA”) in two buildings connected via a double-level pedestrian bridge.
With a GLA of 56,400 m2 (weighted for control), the Project is 89% let, including key anchors such as Cinema Pink, Hervis, H&M, Interspar, Media Markt and Reserved, as well as a New Yorker which is opening in November 2018.
Made up of 300 shops, Mammut is divided into Mammut 1 and Mammut Il. The two malls are connected by one glass hallway on the second floor. There is a food court, restaurants, the cinema, bowling and lots of shopping. Its stylish and huge, servicing the higher end of Buda's inhabitants.
The acquisition entities together own 100% of Mammut 2 and 81% of Mammut 1, respectively. The Mammut 1 shopping center was completed on 28 August 1998 and Mammut 2 was issued on 28 September 2001.
The date of closing the deal 11.09.2018
Value of the transaction (in EUR) 254 million EUR
Yield 5,75%
Seller, plus brief information about the company MANTAPRO Investments Limited, LSREF3 TUMMAM Holdings sarl and LSREF3 Mammut Dutch BV
Consultancy which advised Seller CMS, CBRE
Purchaser, plus brief information about the company NEPI Rockcastle plc is a commercial property investor and developer, listed on the Main Board of the Johannesburg Stock Exchange Limited (JSE) and Euronext Amsterdam.

NEPI Rockcastle plc resulted further to the merger of New Europe Property Investments plc (NEPI) and Rockcastle Global Real Estate Company Limited (Rockcastle) on 11 July 2017, becoming the leading property investment and development group in CEE.

The Group has an exceptional property portfolio with dominant position in Romania, Poland and Slovakia and strong presence in Croatia, Bulgaria, Hungary, Czech Republic, Serbia and Lithuania, progressing with a retail expansion programme in other Central and Eastern Europe markets.

NEPI Rockcastle embraces a strong corporate culture focused on planning, quality of execution, sustainability, ethics and early risk assessment.

The Group is investment-grade rated by Standard & Poor’s (BBB, stable outlook), Fitch (BBB, stable outlook) and Moody’s (Baa3, positive outlook).
Consultancy which advised Purchaser Dentons, JLL, EY
Financing institution -
Current occupancy level 89%
Please say why this deal should be considered for the award With a total rental surface of 61,300 square meters, Mammut is one of the largest shopping centers in the capital of Hungary, having an anchor tenants such as Hervis, H&M, Interspar, Media Markt and Cinema Pink. Following the acquisition, NEPI Rockcastle becomes the main owner of commercial premises in Budapest.
Name of the deal
ACQUISITION OF MAMMUT SHOPPING CENTRE IN BUDAPEST, HUNGARY
Information about the transaction project/projects/portfolio
Mammut is one of the largest and most successful shopping and entertainment destinations in Budapest. It is prominently located at Kalman Square, the busiest interchange hub in the Buda side of the city, and benefits from a strong annual footfall of 15.6 million people. Kalman square is the busiest transport hub in Buda, has a daily traffic of more than 23,000 vehicles. The public transport junction (metro, tram, bus) delivers more than 460,000 passengers every day. The Shopping Centre offers 61,300 m2 of total gross lettable area (“GLA”) in two buildings connected via a double-level pedestrian bridge.
With a GLA of 56,400 m2 (weighted for control), the Project is 89% let, including key anchors such as Cinema Pink, Hervis, H&M, Interspar, Media Markt and Reserved, as well as a New Yorker which is opening in November 2018.
Made up of 300 shops, Mammut is divided into Mammut 1 and Mammut Il. The two malls are connected by one glass hallway on the second floor. There is a food court, restaurants, the cinema, bowling and lots of shopping. Its stylish and huge, servicing the higher end of Buda's inhabitants.
The acquisition entities together own 100% of Mammut 2 and 81% of Mammut 1, respectively. The Mammut 1 shopping center was completed on 28 August 1998 and Mammut 2 was issued on 28 September 2001.
The date of closing the deal
11.09.2018
Value of the transaction (in EUR)
254 million EUR
Yield
5,75%
Seller, plus brief information about the company
MANTAPRO Investments Limited, LSREF3 TUMMAM Holdings sarl and LSREF3 Mammut Dutch BV
Consultancy which advised Seller
CMS, CBRE
Purchaser, plus brief information about the company
NEPI Rockcastle plc is a commercial property investor and developer, listed on the Main Board of the Johannesburg Stock Exchange Limited (JSE) and Euronext Amsterdam.

NEPI Rockcastle plc resulted further to the merger of New Europe Property Investments plc (NEPI) and Rockcastle Global Real Estate Company Limited (Rockcastle) on 11 July 2017, becoming the leading property investment and development group in CEE.

The Group has an exceptional property portfolio with dominant position in Romania, Poland and Slovakia and strong presence in Croatia, Bulgaria, Hungary, Czech Republic, Serbia and Lithuania, progressing with a retail expansion programme in other Central and Eastern Europe markets.

NEPI Rockcastle embraces a strong corporate culture focused on planning, quality of execution, sustainability, ethics and early risk assessment.

The Group is investment-grade rated by Standard & Poor’s (BBB, stable outlook), Fitch (BBB, stable outlook) and Moody’s (Baa3, positive outlook).
Consultancy which advised Purchaser
Dentons, JLL, EY
Financing institution
-
Current occupancy level
89%
Please say why this deal should be considered for the award
With a total rental surface of 61,300 square meters, Mammut is one of the largest shopping centers in the capital of Hungary, having an anchor tenants such as Hervis, H&M, Interspar, Media Markt and Cinema Pink. Following the acquisition, NEPI Rockcastle becomes the main owner of commercial premises in Budapest.

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