CA Immo has successfully signed and closed the sale of the Vizivaros Office Center in Budapest. The building is located in the “Central Buda” office submarket in the western part of Budapest, comprises around 14,200m² of total lettable space, and was 96% let with annualized gross rental income of around €2.5m as at 31 December 2022. The buyer is the FLE SICAV FIS real estate fund managed by FLE GmbH.
Keegan Viscius, CIO of CA Immo, commented: "This successful sale in Budapest is another step in our capital rotation programme where we seek to divest assets with no strategic fit in our long-term portfolio while improving our portfolio and cash flow quality.”
CA Immo pursues a dynamic and value-accretive investment and divestment approach, concentrating its activities on high-quality office assets in the key gateway cities with high growth perspectives and resilience. Overriding targets of the portfolio strategy are to increase portfolio quality to ensure long-term competitiveness and to expand the core markets of Germany and Austria to more than 80% of the total portfolio in the medium term.
