Vienna-headquartered investor CA Immo has successfully signed and closed the sale of R70, an office building in Hungary.
Financial details were not disclosed, but CA Immo said that the deal closed at a price in line with the book value as of Q2 2021.
The buyer was not named.
The property was completed in 2002 and comprises 19,200 m2 of gross leasable area (GLA). According to CA Immo, the disposal is in line with the firm's strategic capital rotation programme to secure and increase the attractiveness and sustainability of its overall asset portfolio.
CA Immo has been invested in Hungary since 1999. As at 30 September 2021, the firm's Hungarian office portfolio totals a rentable area of approximately 215,000 m2 of lettable space with a book value of about €500 mln.
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 during the sales process.
