News Article Budapest CA Immo Hungary investment office
by Property Forum | Investment

CA Immo has signed and closed the sale of the R70 office building in Budapest. The sale of the property, which was completed in 2002 and comprises 19,200 sqm of gross leasable area (GLA), has closed in line with the book value as of Q2 2021. The buyer was local construction company Épkar Zrt. which used funds obtained through the National Bank of Hungary's Funding for Growth Scheme.

This sale is in line with the strategic capital rotation program to secure and increase the attractiveness and sustainability of CA Immo's asset portfolio.

As of Q3 2021, CA Immo's Hungarian office portfolio totals a rentable area of approximately 215,000 sqm of lettable space with a book value of about €500 million. All CA Immo office buildings in Budapest have been awarded a BREEAM (Very Good or Excellent) sustainability certificate.

CA Immo was advised by Colliers International and CERHA HEMPEL Rechtsanwälte GmbH during the sales process.