Warimpex Finanz- und Beteiligungs has finalised the sale of the Csalogány office building in Budapest to an international private investor. The sale price was not revealed but Warimpex said it was higher than the most recent fair value determined by CB Richard Ellis (CBRE) in December 2008, and also significantly higher than the book value.
Warimpex Finanz- und Beteiligungs has finalised the sale of the Csalogány office building in Budapest to an international private investor. The sale price was not revealed but Warimpex said it was higher than the most recent fair value determined by CB Richard Ellis (CBRE) in December 2008, and also significantly higher than the book value.
'This good deal shows the high level of trust placed in Warimpex and our work - despite the difficult economic and market conditions. We see this transaction as confirmation of the fact that we are on the right path with our projects,' said Warimpex board member Georg Folian.
The Csalogány office building was built in 1970 and purchased by Warimpex in 2003. After its purchase, the building was completely renovated and adapted to meet the requirements of the new tenant and brought up to category A. The entire building was let out to the central court in the second quarter of 2009. The seven-storey Csalogány office building has an area of 2,800 m2.
