Unibail-Rodamco, Europe's largest listed property firm, is investing EUR 151 mln in the acquisition of a 50% stake in the Aupark shopping centre in Bratislava, Slovakia. The vendor is local developer HB Reavis Group.

The Paris-based real estate group already owned a half-share in the mall, which it bought in 2005. As part of the acquisition, Unibail-Rodamco is also buying an adjacent plot of land for potential further expansion of the shopping centre for an additional EUR 3 mln.

HB Reavis said the deal generates total net proceeds of about EUR 120 mln.

Opened in 2001, Aupark Bratislava is a prime retail and entertainment centre comprising 52,300 m2 of gross area including a multiplex cinema.

'After six years of cooperation we wish our partner all the best in their role as the sole owner and manager of the centre,' commented Pavel Trenka, HB Reavis' COO & head of Strategy. The proceeds will be used to acquire new development opportunities as part of the firm's international expansion, primarily in Poland and Czech Republic, he added.

'This acquisition proves that underlying fundamentals of Slovak real estate sector are attractive for international institutional investors with long-term commitment to the market,' added Marian Herman, HB Reavis' head of investment management & capital markets.