C&W sells former CIB Bank HQ in Budapest
Cushman & Wakefield, representing CIB Bank, have facilitated the sale of the former CIB Bank Headquarter offices in Budapest’s Szabadság tér to a German investor, as of December 1, according to a press statement sent to the Budapest Business Journal yesterday.
The 6,800 sqm historic landmark building located in District V is in the heart of Budapest’s CBD. Built around 1900 in the Beaux-Arts style, the building was completely refurbished in the late 1990s and served as one of CIB Bank’s headquarters until 2013.
“This is the latest disposal for CIB Bank that we have been involved with, following the transaction of one of their other former operational offices earlier this year. The deal further demonstrates the return of fresh international capital to the market and illustrates that interest has spread beyond the prime and value add sectors to speculative opportunities,” said Mike Edwards, partner and head of capital markets at Cushman & Wakefield in Budapest.
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