OTP Prime Real Estate Investment Fund has fully acquired Corvin Technology Park office building in Budapest, Hungary. With the current acquisition of the second phase of the office complex developed by Futureal Group the largest ever transaction in the Hungarian office market has been closed. Following the sale, the office portfolio of real estate funds managed by OTP Real Estate Investment Fund Management offers nearly 100,000m² on Corvin Promenade. Meanwhile Futureal Group has already started the preparation for the development of its Corvin7 office building project.
"The acquisition of the premium-class Corvin Technology Park was a very important step for the OTP Real Estate Investment Fund, since having a high proportion of real estate in its portfolio is a key element of the fund's strategy. The quality and the location of the new office building fully meet our expectations. Among other things, our investors appreciate the fund’s premium quality properties and the return on their investments. We want to further strengthen their trust with this successful acquisition,” said Eszter Salamon, director of Real Estate Management at OTP Real Estate Investment Fund Management.
"The latest transaction is a significant milestone in Corvin Promenade’s success story that we have achieved together with OTP PRIME Real Estate Investment Fund. This unique urban regeneration project equipped us with a special knowledge that we can leverage during the development of Corvin7, the next chapter of the promenade,” said Tibor Tatar, CEO of Futureal.