TriGranit partners with Heitman in Millennium City Center
Hungarian property developer TriGranit has formed a joint venture with global real estate investment manager Heitman to own and operate four properties with a combined area of 70,000sqm in Budapest’s Millennium City Center, Cushman and Wakefield, an advisor for the transaction said.
TriGranit will act as asset manager for the properties.
Big tenants in the development include Morgan Stanley, Vodafone, Nestle and Schering Plough.
Business daily Napi Gazdasag said on Monday that the TriGranit sold Heitman a 74% stake in the properties for €150m.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.