Cushman & Wakefield closes sale of first building from Raiffeisen RE Fund Portfolio (HU)

Cushman & Wakefield (C&W) global real estate adviser, on behalf of Raiffeisen Real Estate Fund, has successfully closed the sale of Késmárk Office Building in Budapest to a confidential private investor.

The office buildings, located in Budapest's 15th district, are leased long term to Raiffeisen Bank and function as their principal IT Center. Totaling 14,750 m² the transaction consists of 3 buildings located on one site. The main building was constructed in 2007 to class A standards as a built-to-suit solution for Raiffeisen Bank and is equipped with specialist geothermal pre-heating and cooling systems. The other 2 buildings were fully renovated between 2006 and 2008.

Charles Taylor, Managing Director at C&W Budapest commented: "Having been exclusively mandated to advise Raiffeisen Real Estate Fund on the disposal strategy of some of their Hungarian real estate we are pleased to have successfully concluded this first transaction. This further shows the improvement of the Hungarian market."

Raiffeisen Real Estate Fund was advised by Cushman & Wakefield.

Source: Cushman & Wakefield

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