Recorde Asset Management, the real estate fund management arm of Concorde Group, in close strategic cooperation with Forestay Group, is investing in the Móricz Student Living student residence and office building.
The project, which is developed on the premises of a building purchased in June 2024, will welcome the first international students this autumn. It will be operated and managed by Forestay Group.
The acquisition and refurbishment are financed by a loan provided by the Austrian HYPO BANK NOE AG. Taylor Wessing Budapest and Kálmán & Partners have acted as transaction and corporate legal advisers in the transaction.
Horsens Partners, also part of the Forestay Group, has been contracted as general contractor and is responsible for the construction and fitout.
Under the development concept, the 15,440 sqm building is undergoing a partial internal renovation under the supervision of Forestay.
The companies said the central location with excellent transportation links and the proximity to several universities will greatly support the leasing of the 72 doubles for longer-term stays, as well as the traditional shorter-term rentals of a few guest nights.
