A US family office has sold two high profile properties in the centre of Budapest, Hungary.
Financial details were not disclosed.
Bathory Street 12 and Herzog Villa at Andrássy Avenue 93 are two fully leased single-tenanted office buildings enjoying prime locations within the Budapest cental business district.
Andrássy Avenue 93 was formerly the home of the Budapest Stock Exchange.
Both properties have been locally managed by Teichmann & Companions since acquisition in 2015.
Avison Young mediated the disposal on behalf of the vendor.
A spokesperson for the family office said: 'We have recently secured the lease extension of our tenants in both buildings; hence this was a perfect timing to dispose of the stabilised assets.
'Through this seamlessly executed transaction managed by Avison Young, we were able to successfully exit the Hungarian market while achieving excellent returns.'
The vendor was advised on the disposal by Benjamin Perez Ellischewitz, principal at Avison Young Hungary.
Legal support was provided by Szécsényi & Partners (sell side) and Oppenheim (buy side).
