News Article development Lucron Residential Slovakia Trnava
by Property Forum | Investment

Local developer Lucron has sold an entire residential building to an institutional investor for the first time. Part of the Arboria Apartments project implemented in Trnava, Slovakia, the building with 51 apartments was purchased by Kooperativa poistovňa, a.s. Vienna Insurance Group, which plans to lease it on a long-term basis.

The asset's divestment marks a major milestone for Lucron - for the first time in its history, the entire building was sold to an institutional investor. Kooperativa poist'ovňa, a.s. Vienna Insurance Group bought the building with 51 apartments, 69 parking spaces and 4 retail spaces.

Despite the current pandemic situation and related restrictions, Lucron managed to furnish all 51 housing units in a short time. In less than 5 months, all the apartments were custom furnished and ready for full-fledged living. "In 2.5 months, our in-house team managed to let all 51 flats and they are now occupied by happy tenants. I can say that these numbers have exceeded our expectations," says Zoltán Müller, Chairman of the Board of Lucron.

Tenants in Arboria Apartments enjoy a long-term housing guarantee with the possibility of extension, operational services, amenities and plenty of green space right under the windows. Through its subsidiary Bytrex, Lucron will also take care of the complete management and maintenance of the building for 2 years.