Central Europe investor DRFG Investment has bought the Bartók Ház office building from CA Immo, marking its entry into the Hungary commercial property market.
DRFG invested an unspecified sum to acquire the 17,600sqm property in central Budapest, as part of the group’s strategy to further expand its real estate portfolio across the Central and Eastern European region.
Development company TriGranit, which became part of the DRFG last year, will be responsible for the building’s asset management.
This acquisition takes DRFG’s presence into eight European markets, which also include the Czech Republic, Poland and Slovakia.
Jan Pelíšek, real estate director at DRFG Investment, said: “I am pleased that we have successfully completed another significant acquisition. This is an attractive property in a prestigious location that fits perfectly into our long-term strategy for growth and diversification.
“Bartók Ház is the group’s first office and commercial property in Hungary, yet we already see additional opportunities in this market that we intend to pursue.”
Christoph Buchgraber, senior investment manage at CA Immo, said: “We are delighted that we have been able to secure DRFG as a long-term investor for this property and wish TriGranit continued success in managing of Bartók Ház.”
Tomasz Lisiecki, CEO of TriGranit, said: “We see Budapest and the entire Hungarian market as highly promising. With our long-standing knowledge of the market and a strong local team, we identified numerous opportunities for further development.
“Bartók Ház is a stable asset with a strong tenant portfolio, providing us with scope for further value creation.”
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