Park Atrium – one of the most recognisable Budapest office buildings, leased to Deloitte, ING and Roche - was sold last week. German-based Asset Manager Corpus Sireo - on behalf of one of their managed accounts - has purchased the building from Accession Fund managed by GLL Real Estate Partners for an undisclosed price believed to be in excess of €50 million.
This is a key transaction for the Budapest investment market which continues to gather momentum and attract investors that have previously vowed to away from a market where they burned themselves during the crisis. Opportunities in the Hungarian capital are now being actively sought by core risk-averse buyers looking to re-enter the Budapest office market by acquiring assets offering defensive and long-term income stability.
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