Diófa Asset Management has acquired South Pest Business Park. The vendor was Wing Zrt.; the new owner is Magyar Posta Takarék Property Investment Fund, which is Hungary's second largest domestic open-ended fund. The purchaser, represented by Diófa Asset Management, currently owns €207.3m of property value. The city logistics scheme is located in the 9th District, totals in 34,400 m² GLA and the modern warehouse area is 90% occupied. The South Pest Business Park was transacted for €29m.
Diófa Asset Management represents four property investment funds and is committed to build a diversified portfolio in Hungary to continuously generate sustainable income for its investors. Besides a strong modern office stock, the company started to build a retail portfolio in 2016, resulting in one third share of the annual retail investment transactions in Hungary. With this new deal, the industrial share of the property portfolio increased from 9% to 20%.
By representing one open-ended and three private real estate funds, Diófa Asset Management transacted a total of €320m in property investment through barely three years. Due to the successful asset management strategy, the 270,000 m² large property portfolio is 95% occupied.
"Record volume levels, last seen in 2007, define the market that causes changes in the market’s dynamics and put pressure on yield levels. Our company grew with our portfolio; with qualified colleagues we ensure that Diófa Asset Management’s services stay above average for the investment funds we represent to our 250 tenants. We plan to remain active on the property investment market, while 2017 will be a new milestone, as we plan to turn our energy on major developments and hope to publish details about these in the near future.” – highlighted László Vas, head of real estate investments at Diófa Asset Management.
According to commercial real estate agencies, international investors put Hungary back on their investment map and starting to be active again. In addition, local investors are also active and they represent nearly 30% of the total transaction volume closed in the past two years. Diófa Asset Management is among the largest local investors, around 40% market share was dedicated to the company.
