by Ákos Budai | Investment

Belgian real estate developer Atenor announced the sale of Váci Greens Building C to Czech investment fund ZFP realitní fond (managed by ZFP Investments). This building is one of the three buildings completed by Atenor within its Váci Greens development in Budapest. Building C, completed in June 2015, comprises 18,500 sqm of office space, fully let to General Electric. 

The whole Váci Greens development, initiated by Atenor in 2008, will comprise six office buildings, totalling over 120,000 sqm of Class A office space. Located on the fast developing business area of the Váci corridor, the development obtained the highest BREEAM environmental certification. It attracted several tenants, in particular General Electric which selected Váci Greens to establish its European Global Operations Center. The impact of this sale confirms the latest disclosed Atenor’s forecast for 2016. 
 
The Budapest investment market has been very active recently and various investors demonstrate a strong interest for the purchase of buildings A (15,700 sqm, 88% let to various tenants) and B (25,300 sqm, 65% let). 
 
ZFP Investments is the Czech subsidiary of IAD Investments, the oldest Slovak mutual fund manager. Its activities are spread throughout Slovakia, the Czech Republic and other countries of Central Europe. The current asset under management of IAD Investments’ funds is ca. € 420 million.