Erste fund buys remainder of Budapest office complex

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The Erste Real Estate Fund has bought the rest of Vision Towers, an office block in Budapest, from developer Futureal, the parties announced yesterday, according to Hungarian news agency MTI. 

The transaction price was not revealed, but Futureal earlier put the value of the three-tower project at €50 mln. Erste already owns one tower and has now purchased the other two. Occupancy in the two towers stands at 90% at present, but will reach 100% in one month, Futureal CEO Tibor Tatar said. Companies leasing space in the building include KPMG, Teva, Provident and Costa Coffee, he added.

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