Law firm Salans has announced it advised international real estate company Heitman on three acquisitions in Hungary and the Slovak Republic. The investments, which all completed at the end of December 2011, were made on behalf of the EUR 505 mln fund Heitman European Property Partners IV (HEPP IV).
Law firm Salans has announced it advised international real estate company Heitman on three acquisitions in Hungary and the Slovak Republic. The investments, which all completed at the end of December 2011, were made on behalf of the EUR 505 mln fund Heitman European Property Partners IV (HEPP IV).
In Budapest, HEPP IV formed a joint venture with TriGranit to own and operate four class A office properties known collectively as The Millennium Portfolio. Totalling 70,000 m2, the properties were developed by TriGranit, who will also serve as the asset manager for them. Heitman has taken a 74% interest in the joint venture.
Also in Budapest, Heitman purchased two class A office properties, a 30,000 m2 Science Park and a 25,000 m2 Alkotas Point, from Aviva. Both properties are leased to multinational tenants, such as Ericsson and TATA at the Science Park and Bayer, Unicredit and Concorde at Alkotas Point.
In Bratislava, Heitman acquired Aupark Tower, a class A office project of 32,535 m2 leasable space. Aupark Tower is 99% leased.
Click on the link below to read: Pbb provides financing for Heitman in Budapest
