CA Immo sells office property in Hungary
Sale of R70 office building in Hungary in line with strategic capital rotation program
Budapest, Vienna, January 27 2022. CA Immo has successfully signed and closed the sale of R70 in Hungary. The sale of the property, which was completed in 2002 and comprises 19,200 sqm of gross leasable area (GLA), has closed in line with the book value as of Q2 2021.
This sale is in line with the strategic capital rotation program to secure and increase the attractiveness and sustainability of the CA Immo asset portfolio.
CA Immo has been invested in Hungary since 1999. As at 30 September 2021, the Hungarian office portfolio totals a rentable area of approximately 215,000 sqm of lettable space with a book value of about €500 m.
All CA Immo office buildings in Budapest have been awarded a BREEAM (Very Good or Excellent) sustainability certificate.
CA Immo was advised by Colliers International and CERHA HEMPEL Rechtsanwälte GmbH during the sales process.
Images of the office building R70 can be downloaded via this link.