News Article Adventum Budapest Hungary investment office Redwood
by Property Forum | Investment

Following the sale of the Buda Square and Margit Palace office buildings in November last year, Budapest-based Adventum Zrt. has sold another asset from its Adventum TRIUM Real Estate Fund portfolio, the Máriássy 5 office building and the associated development area.

The property is located on the edge of the fast-developing business district of District IX, on the southern part of Könyves Kálmán Ring Road. The building was developed in 2000 and offers more than 4,144 sqm of leasable office, showroom, service and warehouse space.

“This is our third successful exit in a year and a half, following the sale of the Buda Square and Margit Palace office buildings. We have sold the majority of our properties in the Adventum TRIUM portfolio and we believe that it is realistic to achieve a full exit at the Fund level in 4 years instead of the planned 6 years. We congratulate the buyer, Redwood Real Estate Holding, a premium real estate developer, on the acquisition of a property with excellent development potential,” says Kristóf Bárány, owner of Adventum Zrt.

Adventum was represented in the transaction by Cushman and Wakefield and law firm Hümpfner, while Redwood Real Estate Holding was represented by law firm Oppenheim.