Atenor confirmed the closing of the sale of the third building of the Váci Greens campus in Budapest to Hungarian real estate fund OTP Prime Ingatlanbefektetesi Alap and consequently the collection of the full sale price, i.e. €63.75 million. Váci Greens B comprises 25,300 sqm of office space and 399 basement parking spaces.
Atenor also announced the signing of a rental contract with an international group concerning approximately 5,000 sqm in this building.
This is Atenor’s third sale in Budapest. Building C of the complex was sold to ZFP Investments, the Czech subsidiary of IAD Investments at the end of last year, whereas Building A was acquired by a group of private Hungarian investors at the beginning of this year. Atenor collected around €141 million for these three sales. Whereas the sale of Building C has contributed to the 2016 results, the sale of Building A and B will have a major cumulated impact on the 2017 results.
Upon completion the Váci Greens campus in Budapest will offer 6 buildings with a total of 120,000 sqm of office space, three of which have been sold to date and a fourth is currently being built. This building (Váci Greens D) will be delivered in January 2018 and is already 20% pre-leased.
Atenor has also marketed its Hermes Business Campus in Bucharest, which totals 72,000 sqm of net office space and the third building has just been delivered to its occupant. This campus is thus 100% leased.
A new development of 12,000 sqm (the Dacia project) has been started in the heart of Bucharest's CBD and other projects are currently being studied both in Budapest and in Bucharest.