Wing-owned Witorp Kft. has signed a share purchase agreement to acquire Capital Square, a landmark office building in the Váci út business district of Budapest.
The commercial vehicle purchased Váci 76 Beruházásfejlesztő Kft., the corporate entity holding the asset, from its Austrian owner, CA Immo, according to portfolio.hu.
The target company holds an asset value of HUF 17 billion forint (€47.6 million) and generates an annual revenue of approximately HUF 3 billion forint (€8.4 million) through office leases and auxiliary management services.
The ultimate beneficial owners of Witorp Kft. are Hungarian investor Tibor Veres alongside his American business partner, Noah Steinberg.
Completed in the summer of 2009, the Capital Square office building offers an approximate effective area of 34,000 sqm within a site spanning some 8,500 sqm.
