CA Immo has completed the sale of Millennium Tower I, an 18,800 sqm office building in Budapest's Central Pest office submarket, to ultra-low-cost airline Wizz Air, for an undisclosed sum. The transaction continues the company's strategic capital rotation programme to focus on high-quality, modern office properties in core markets.
The multi-tenant building, completed in 2006, is part of the Millennium Towers office park located along the Danube banks. It offers approximately 18,800 sqm of gross leasable area and around 270 parking spaces. As of November 2025, occupancy stands at about 87% with a WAULT of 7 years and annualised in place GRI of around €3.1 million.
"Based on market fundamentals and alternative capital allocation options, we decided to reclassify Hungary to a non-core market in 2023," said Keegan Viscius, CEO of CA Immo. "This transaction is a further step in implementing our strategic capital rotation programme and exiting the Hungarian market."
Hedwig Höfler, Group Head of Investment Management, noted that after extremely low transaction activity in 2023 and 2024, the Budapest investment market has caught up strongly in 2025. "With three sales last year, we can confirm this positive market trend," she said.
Newmark VLK Hungary represented the buyer throughout the acquisition.
Valter Kalaus, Managing Partner of Newmark VLK Hungary, said: “This is a major office investment in the Hungarian market and a clear sign of Wizz Air’s long-term commitment to Hungary.”
As of 30 September 2025, CA Immo's Hungarian portfolio consisted of six office buildings in Budapest with total lettable area of around 125,000 sqm and book value of around €246 million. All Hungarian buildings have Breeam Very Good or Leed Gold sustainability certification.
