The Erste Open-Ended Real Estate Investment Fund has acquired two HelloParks warehouses from Futureal Group, in Hungary, in a transaction that marks the largest industrial real estate deal on the local market in the past decade.
The two buildings, PT2 and PT3, are located in the HelloParks Budapest West megapark and provide a combined 84,000 sqm of industrial and logistics space. The acquisition is a significant step for the fund, as it looks to become a prominent investor in the industrial sector.
Gábor Futó, Founder of HelloParks and Futureal Group, said: “This transaction is a sign of returning liquidity and will catalyze further investor activity. The early movers will reap the rewards of healthy yields, strong space demand, rental growth and limited supply of land and being able to access the very limited ESG compliant stock.”
“Acquiring HelloParks’ warehouses is a significant step for us in becoming a prominent investor in the rapidly advancing industrial real estate development sector,” said Balázs Pázmány FRICS, Chairman of the Board at Erste Alapkezelő Zrt. “Both buildings fully meet the quality and sustainability criteria that are essential for Erste Real Estate Fund’s investment decisions.
The HelloParks Páty megapark is a key hub for local, national, and international transport. Spanning 87 hectares, the site will ultimately offer 384,000 sqm of industrial space, with 142,000 sqm already completed and another 42,000 sqm set for delivery this year. In addition to the PT2 and PT3 warehouses, the megapark houses the 58,000-sqm PT1 facility — the largest contiguous modern industrial building in the Budapest metro area.
The three completed warehouses are nearly 90% leased and support around 550 jobs.
