Prime Holdings Group has completed the sale of its Łódź 1 project in Poland and the Science Park office complex in Budapest, Hungary. The combined transaction value exceeds €60 million.
The Łódź 1 project is located on Piłsudskiego Street near Piotrkowska Street in central Łódź. The buyer is local investment group Domena s.k.a. The property comprises a 6,400 sqm office complex on a 10,000 sqm plot. During ownership, Prime obtained planning approvals for expansion to approximately 45,000 sqm of mixed-use space including residential areas.
Roy Linden, Partner and Co-Founder at Prime Holdings, said: "Łódź 1 showcases Prime's investment strategy. We focus on assets where we can leverage our expertise to unlock potential and increase value over the investment cycle. We have conviction in the CEE region and are seeking investment opportunities in Poland, the Czech Republic, and Hungary."
Prime also sold the Science Park office complex in Budapest's 11th district, held in joint venture with an institutional investor. The 30,000 sqm property was one of Hungary's largest office transactions this year. During ownership, occupancy increased to over 80% and energy performance improvements were made.
Prime Holdings Group is a real estate investment platform focused on Central and Eastern Europe. The company has been active for over 12 years and has transacted over €500 million in real estate across Poland and Hungary.
