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HGA Capital buys five Budapest properties from IVG Immobilien

HGA Capital, a real estate unit of Germany's HSH Nordbank, announced it has purchased five properties in Budapest for €99.8 million from IVG Immobilien.

HGA Capital bought three office buildings with combined space of 30,000 square meters in the Infopark office park in the south of the city, and two listed buildings with combined space of 7,700 square meters on the capital's Andrássy út. All of the buildings are nearly 100% leased. Budapest Bank and ITD Hungary occupy the two properties on Andrássy út, and Panasonic and HP occupy the buildings in Infopark.