OTP Real Estate Investment Fund has acquired the 26,000 sqm Roosevelt office building in central Budapest. The seller was Munich-based GLL Real Estate Partners (GLL).
The Roosevelt office building was handed over in 1980, it underwent a complete overhaul in 2006 and it was once more renovated by the owner in 2016 to retain the premium character of the property. The office building currently offers 24,200 sqm of Class A office space, complemented by 1800 sqm of retail and catering space on the ground floor. The occupancy rate of the office building is currently over 95%, with 17 international and domestic companies being present as tenants.
