Allen & Overy has advised the HB Reavis Group, which the firm describes as "the leading commercial property developer in CEE," on the sale of the Aupark Kosice shopping center and Aupark Office Tower to New Europe Property Investments Plc. for EUR 165 million. Kosice is the largest city in eastern Slovakia.
The Aupark Kosice shopping center is located in the Kosice city center and offers approximately 34,000 square meters of lettable space, leased to major retailers like Mango, H&M, C&A, New Yorker, Datart, and Billa. The adjacent Aupark Office Tower comprises 12,700 square meters of lettable space and is leased to tenants such as such as IBM, PWC, Holcim, and Eset.
The transaction also includes the sale of a development project on the site of the former Malinovsky barracks, located in the wider Kosice city center. It is subject to approval from the Slovak Antimonopoly Office.
This is the second transaction between HB Reavis and NEPI, a commercial property company listed on the Main Board of the Johannesburg Stock Exchange, the regulated market of the Bucharest Stock Exchange, and the AIM market of the London Stock Exchange. In 2013, NEPI acquired the Aupark Zilina shopping center from HB Reavis.
The A&O team consisted of Partner Martin Magal and Senior Associates Vojtech Palinkas and Juraj Gyarfas.
Image source: auparktower.sk
