CEE investor Immoeast has extended existing lease contracts for about 40,000 m[sup]2[/sup] in the Euro Business Park in Budapest. The lease conditions were signed at market standards, with an average maturity of five years.
CEE investor Immoeast has extended existing lease contracts for about 40,000 m2 in the Euro Business Park in Budapest. The lease conditions were signed at market standards, with an average maturity of five years.
The Euro Business Park is situated in the west of Budapest and has direct access to the highway.
'The excellent locations and the high quality of our portfolio show that we can satisfy the needs of international tenants including General Motors, Bayer and Cemelog despite difficult market conditions, and that they are willing to renew their contracts,' Dr. Eduard Zehetner, CEO of Immofinanz group, said. 'These extended lease contracts ensure a stable cashflow for Immoeast,' he added.
Immoeast was founded in 1999 as a subsidiary of Immofinanz to manage the parent company's activities in Eastern Europe. Immoeast listed on the Vienna Stock Exchange in December 2003 and on the Warsaw Stock Exchange in May 2007.
