TriGranit sells Millennium Gate complex in Budapest (HU)

TriGranit successfully sold the Millennium Gate building complex, located in Millennium City Center, in Budapest. Millennium City Center, which was one of the largest real estate developments in Central Europe, will now offer healthcare services, beside the existing residential, office and cultural facilities.
The Dutch-registered International Medical Centers B.V. is the new owner of Millennium Gate, in which Hungary’s first, ultra-modern private hospital is going to be developed.
The Class A office towers, the National Theatre and the Palace of Arts have become landmark buildings on the banks of the Danube River in Budapest. The modern offices, built using environmentally friendly technologies, are very popular among the tenants (e.g. Morgan Stanley, Vodafone or Nestlé).
In 2011, K&H Group also purchased from TriGranit an office tower in Millennium City Center, which became the K&H Group Headquarters. In the same year, Heitman also acquired a 74% share in Millennium Towers I, II and III, as well as building “H”.
During the last 14 years, TriGranit developed a total of 360,000 m² on Millennium City Center’s 3-hectare plot: Duna-Pest Residences consisting of more than 310 luxury apartments; the Palace of Arts; five Millennium Tower office buildings; Millennium Gate. The total value of the development project exceeds €500 million.
Source: TriGranit