A new office building deal is struck in Budapest – The Infopark A office building has been sold

Diófa Asset Management made an agreement with CA Immo about the investment transaction of Infopark A office building at the end of 2017. Representing Magyar Posta Takarék Real Estate Investment Fund, Diófa Alapkezelő Zrt. bought the 14 000 square meters, category A office building.

Holder of a gold LEED rating for green buildings, this office building is located in South Buda’s most popular office location, where a unique micro climate ensures pleasant work environment for the occupants.

The Infopark A office building has been fully occupied by tenants for many years.

Thanks to an in-house restructuring exercise, additional 1,500 square meters floor space will be available for new tenants from January 2018. In light of the approx. 4% vacancy rate of this submarket and the active interest shown, the office building is not likely to remain unoccupied for a long time. The seller was represented by Colliers International in this sales transaction.

Ede Gulyás, Head of CA Immo Hungary: “This is the second transaction that we realised in excellent cooperation with Diófa Alapkezelő Zrt. They received a high quality building occupied by first class tenant that will become, in my opinion, a stable revenue maker as part of their portfolio. We managed to sell building A of Infopark in a favourable market environment in the wake of local portfolio adjustment, following the large-volume purchase of the 70,400 sqm office complex Millennium Towers in 2016.. With a property portfolio worth more than € 450 m, Hungary is CA Immo’s major CEE market with increasingly dynamic development.”