Atenor announces the successful sale of the iconic RoseVille office building located in Budapest, Hungary. This transaction is a significant achievement in Atenor’s operational plan and a major milestone in the Budapest investment market for the year 2023.
In spite of difficult market conditions, Atenor succeeded in closing this transaction which will have a positive impact on Atenor’s cash position of c. €20m and will reduce the consolidated debt by €9.5m. This transaction will have no impact on 2023 results but could have a positive impact on the future company’s results, with the conclusion of future lease agreements (60% of the space having already been rented).
RoseVille is a prime office building located in North Budapest, with a gross leasable area of 15,500m2, and was handed over in the summer of 2023. Tenants include international companies like Veeva Systems, L’Oreal and Red Bull. The sale of this state-of-the-art facility is a testament to Atenor’s commitment to delivering high-quality, sustainable real estate projects in prime locations. The buyer is a Hungarian Fund set up by international investors.
“While the sector is facing a slowdown, Atenor has been able to propose to an investor an attractive investment with top sustainable quality that meets the evolving needs of businesses and investors. This deal represents a significant achievement for our company and reinforces our position as a prominent player in the Hungarian real estate market“, said Stephan Sonneville, CEO at Atenor.
