Warsaw- and Johannesburg-listed GTC, the CEE-focused developer and asset manager, has acquired a new-build office in Budapest.
Financial details were not disclosed.
The Váci Greens D office building comprises 16,027 m2 of space and includes a terrace area and retail units ranging from restaurants to fashion and 246 parking spaces.
GTC said the transaction had been partially financed by its 2020 green bonds issue, and was in line with the group strategy to invest in sustainable, commercial buildings located in CEE capitals.
Yovav Carmi, president of the management board of GTC, said: 'Last year we sold one of our long-lasting assets, Spiral office building. Seeking new opportunities on the market, we decided to acquire Váci Greens D located in Budapest, that fits our portfolio and meets our requirements in terms of modern and sustainable A-class projects.
'We consequently continue our strategy, offering our tenants the highest standards that now in the pandemic are needed more than ever before.'
The Váci Greens D office building has achieved Breeam Excellent rating, and forms part of a larger office complex, the Váci Corridor. The asset is almost fully occupied with prime tenants including Unilever, Avon, and Ford.
