Hungary

GTC has sold its A-class Cascade Office Building in Bucharest to the Hungarian Crown Holding Kft. making a healthy profit of close to 20% or €1.6 million on the transaction since its acquisition in 2017. The selling price of the property was €10.1 million.

Warimpex Finanz- und Beteiligungs AG announces the sale of B52 Office in Budapest to Semmelweis University. The contracting parties have agreed on a purchase price of EUR 12.575 million for the fully occupied office building with a total area of more than 5,200 square metres. The transaction was successfully completed on 29 J...

Mid-June, Lenovo has officially opened the doors to its first in-house manufacturing facility in Europe. Based in Ullo, the factory focuses primarily on building server infrastructure, storage systems and high-end PC workstations used by customers throughout the Europe, Middle East, and Africa region.

Colliers announced today that it represented the developer, Faedra Group, on exclusive basis to dispose of the first phase of its brand-new logistics development in the Budapest logistics market.

Skanska’s commercial development business unit in Central and Eastern Europe (CEE) continues its strategic focus on creating future-proof and sustainable places by appointing new directors responsible for the developing and leading teams in Environmental and Health & Safety areas.

Immofinanz has finalized the complete modernization of the Myhive Haller Gardens in Budapest. The building has been renewed and new services have been introduced to maximize flexible working and the versatile use of the community spaces in the office building.

Immofinanz has just leased the last free unit in its Hungarian Stop Shop portfolio, reaching 100% occupancy rate. The newest and last tenant is Sportisimo in Stop Shop Keszthely. Immofinanz, now has roughly 136,000 m² of fully leased retail space in 14 locations across Hungary.

GTC has just commissioned a new, premium-quality office building in Budapest. The Pillar office building is an important development for the market, with the largest pre-lease contract in the history of the Hungarian office market, signed by GTC and the US energy company ExxonMobil, in 2019. The newest addition to the GTC Hun...

Europa Capital announces the launch of the Central European Logistics Platform on behalf of its latest value add fund, Europa Fund VI, acquiring a prime 15.0 hectares site on which it will fund the development of park22, an urban logistics park in Budapest.

Colliers has promoted Oana Stamatin ESG (Environmental, Social and Governance) Chief Officer in Central and Eastern Europe (CEE), now including Bulgaria, Czech Republic, Hungary, Poland, Romania, and Slovakia.

CA Immo has successfully closed the sale of R70, Budapest, to construction company Épkar Zrt.. The sale of the property, which was completed in 2002 and comprises 19,200 sqm of gross leasable area (GLA) and 430 parking spaces, has closed in line with the book value as of Q2 2021. According to Hungarian media, the sale price w...

Europa Capital has acquired, in partnership with commercial real estate investor and developer ConvergenCE, Akadémia Business Center in Budapest. The acquisition has been completed on behalf of Europa Capital’s latest value add fund, Europa Fund VI.

Allianz Real Estate, acting on behalf of several Allianz group companies, and VGP have agreed to form a new 50/50 joint venture. The vehicle, the fourth such venture between Allianz Real Estate and VGP since 2016, will develop a portfolio of prime logistics assets in Germany, the Czech Republic, Hungary and Slovakia.

Panattoni is kicking off its first investments in Hungary. Panattoni Park Budapest West and City Logistics Budapest I will encompass jointly up to 100,000 sqm.

CA Immo records strong tenant demand and several new lettings in its Budapest Class A office building Millennium Tower II. All new tenants will be moving in at the end of 2021 or beginning of 2022.

M7 Real Estate has fully deployed the capital raised on behalf of M7 CEREF II, its value-add fund targeting logistics and office investments in key Central European markets. The final acquisition is Pallag 43, a modern, last mile logistics asset in the north of Budapest acquired from a private investor for €9.6 million.

CA Immo continues its path of selling non-core property assets with the signing of a sales contract for Canada Square office building (5,000 sqm) in Budapest. Buyer is the Hungarian Investor Investum Kft. The sale has closed at a premium of 28% to the book value as at 31 December 2020.

Aurelia Luca, Executive Vice President of Operations in Romania is now expanding her area of responsibility by taking over the Hungarian market as well. With more than 20 years of expertise in real estate development, Aurelia has been part of the Skanska team for almost 10 years.