News Article Budapest Diófa Erste Bank Hungary office refinancing
by Property Forum | Office

Asset management firm Diófa and the Hungarian branch of Erste Bank have concluded a financing deal for seven years. The refinancing contract is worth €73 million, reports.

The portfolio consists of three prime office buildings - V17, Green House and Alkotás Point, offering a total of 53,000 sqm GLA of modern space in Budapest.

"We are continuing our almost ten-year cooperation with another seven-year contract with Torony Ingatlan Alap and Diófa Fund Management. It's great to see that predictable work together for both parties leads to such a lasting relationship," pointed out Tamás Deák, Head of Real Estate Financing at Erste Bank Hungary.

"The financing environment has changed a lot in the past period, so we are satisfied that with the cooperation of a reliable partner, the fund's bank resources have been secured for the long term. The transaction also shows that the best quality office buildings on the Budapest market represent a high value even in the midst of changing market processes and expectations," noted Zsolt Jakab, Diófa Fund Management's portfolio manager responsible for real estate funds.