A new office building deal is struck in Budapest – The Infopark A office building has been sold

Diófa Asset Management made an agreement with CA Immo about the investment transaction of Infopark A office building at the end of 2017. Representing Magyar Posta Takarék Real Estate Investment Fund, Diófa Alapkezelő Zrt. bought the 14 000 square meters, category A office building.

Holder of a gold LEED rating for green buildings, this office building is located in South Buda’s most popular office location, where a unique micro climate ensures pleasant work environment for the occupants.

The Infopark A office building has been fully occupied by tenants for many years.

Thanks to an in-house restructuring exercise, additional 1,500 square meters floor space will be available for new tenants from January 2018. In light of the approx. 4% vacancy rate of this submarket and the active interest shown, the office building is not likely to remain unoccupied for a long time. The seller was represented by Colliers International in this sales transaction.

Ede Gulyás, Head of CA Immo Hungary: “This is the second transaction that we realised in excellent cooperation with Diófa Alapkezelő Zrt. They received a high quality building occupied by first class tenant that will become, in my opinion, a stable revenue maker as part of their portfolio. We managed to sell building A of Infopark in a favourable market environment in the wake of local portfolio adjustment, following the large-volume purchase of the 70,400 sqm office complex Millennium Towers in 2016.. With a property portfolio worth more than € 450 m, Hungary is CA Immo’s major CEE market with increasingly dynamic development.”

„We are delighted to close another successful investment transaction with Ca Immo Hungary.

As an asset management company we are focused to serve our investors’ interest through a stable portfolio with long-term  returns. Infopark A is a perfect fit  to our balanced and diversified real estate stock, and furthermore it also has a value-add potential.” – added Balázs Czifra, real estate investment director at Diófa Asset Management.

Bence Vécsey, Director, Head of Investment at Colliers Hungary: “We are proud to have been able to successfully support our client, CA Immo Hungary, in selling Infopark’s first built office building and finding the most promising new owner for the building. This was our third jointly managed transaction in which we supported our client. And this time the building we sold to Diófa Alapkezelő Zrt. nicely complements the existing investment portfolio of the fund management company in the highly successful Infopark.”

About the office building

• 14,000 square meters GLA
• Inaugurated in 2,000 and renewed in 2015
• LEED Gold rate certified
• Ground floor + 4 storeys office area
• Both underground and ground level parking places
• Restaurant inside the office building

Featured image: Zempléni Kommunikáció Kft.

Source: Daily News Hungary – PR