Raiffeisen Bank renews its lease at Akademia Bank Center (HU)

Cushman & Wakefield (C&W), the world's largest privately held commercial real estate services firm, has recently concluded one of the largest office lease renewals of 2012 to date, with the Austrian based Raiffeisen Bank at Akademia Bank Center, Budapest. Akademia Bank Center is an A-category CBD office accommodation on the bank of river Danube.

C&W represented the owner of the building, a global real estate investment manager, in an exclusive agency capacity.

Martin Melkowitsch COO at Raiffeisen Bank Hungary, and Member of the Management Board added: "We conducted an exhaustive search on the actual market; however after strong negotiations we are happy to of completed this renewal at Akademia Bank Center. It is a clear statement from a large institution like ourselves that we see a future in Hungary and we look forward to spearheading our operations from Akademia Bank Center."

Gergely Pados, Partner, Head of Office Agency at C&W Budapest stated: "We are delighted that Raiffeisen Bank have opted to renew at their Hungarian Headquarters. This is one of the largest transactions in Budapest in 2012 so far, and demonstrates the bank's commitment to Hungary for the foreseeable future. This is the fourth time Raiffeisen Bank have renewed at the building, and it certainly illustrates the flexibility of the building and owner as well as proving to be the most optimum office solution for Raiffeisen Bank."

In the negotiation process the Landlord was represented by Orbán & Perlaki legal partners.

Akadémia Bank Center extends to 13,200 m² lettable office area and was built in 2000. The property has excellent road accessibility and public transportation access. In addition, the building benefits from 140 secure underground car parking spaces.

Source: Cushman & Wakefield

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