SCD sells Budapest properties to company owned by Kristóf Nobilis
Fortis Private Equity, a unit of property developer SCD, has sold properties in Budapest to a company owned by Hungarian businessman Kristóf Nobilis, the seller told MTI.
Fortis did not reveal the transaction price, citing business confidentiality.
SCD founder and part owner Gellért Jászai decided to sell the real estate in the capital because of the outlook for profitability of the property development market, the crisis and the slowdown in banks' lending activity, according to the statement.
The transaction included the Akadémia Park development in Budapest's District II, and the Klothild Palota and the Párizsi Udvar buildings in the city center.
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.