CA Immo completed the sale of the IP West office building in Budapest, in one of the most significant acquisitions made by an international group within the Budapest office sector for 2024-2025.
The office building offers approximately 32,100 sqm of leasable office space and around 800 parking spaces.
The sale was supported by CBRE and CERHA HEMPEL Rechtsanwälte.
Keegan Viscius, CEO of CA Immo, said: “The sale will enable us to strengthen our commitment to our core markets and further sharpen our strategic focus. CA Immo is pursuing a clear objective of concentrating on high quality, class A office buildings in central locations on our core markets.”
The divestiture represents a key step in CA Immo's strategic realignment away from the Hungarian market.
The IP West deal signals a resurgence of interest in Budapest offices, driven by what appears to be a market correction in pricing. Investors are increasingly targeting this sector as returns and rental growth become more attractive.
