The transaction comprises two standalone BESS sites in Riga with a combined capacity of 45 MW/120 MWh. The portfolio includes the Bolderaja and Bisuciems projects, which were developed from the greenfield stage by the Latvian renewable energy developer, Aretis Group.
The projects have already secured key development milestones, including grid connection agreements and building permits. Construction is expected to commence in July, with commercial operations targeted for November, according to Futureal Energy Partners.
“The Baltics have rapidly emerged as one of Europe’s most attractive energy storage markets; this acquisition is fully aligned with our strategy of investing in flexible energy infrastructure in markets where storage can play a vital role in supporting grid stability and accelerating renewable energy integration,” comments Daniel Szentirmai, co-founder and CEO of Futureal Energy Partners.
“Latvia offers strong long-term market fundamentals, and we see considerable further opportunities across the region,” he says. “The acquisition further strengthens FEP’s expanding European renewable energy portfolio, which includes solar PV and battery storage investments in Finland, a large-scale solar project in Hungary, and a 45MW onshore wind project currently under construction in Poland,” he adds.
FEP is responsible for electricity trading and the full-cycle development of energy investments. Its stated mission is to “provide affordable green energy using state-of-the-art technology to group companies, real estate developments, and third-party clients. Through its renewable energy investments, the company aims to support developers driving the green transition across Europe and actively contribute to achieving the continent’s carbon neutrality targets. As an investor focused on the energy transition, it builds strategic partnerships in key European markets, particularly in the fields of onshore wind power, solar energy systems, and energy storage solutions.”
Wing has acquired the 34,000 sqm Capital Square office complex on Váci út as the Austrian CA Immo continues to divest its Budapest office portfolio. Several earlier-generation but higher-quality office buildings are being transacted in this way. More investors are being attracted to the Budapest office market, although availability of ESG-compliant, well-located assets is low and the speculative development pipeline is very limited.
“The transaction aligns with Wing’s long-term investment strategy, which focuses on high-quality assets providing stable yields in prime locations, and reinforces the group’s commitment to the Hungarian office market,” comments Wing. The office building is certified with BREEAM In-Use and Access4You ratings.
“With the acquisition of Capital Square, the company further strengthens its presence along the Váci út office corridor, in a business environment partly shaped by Wing, where numerous landmark developments are associated with the company, including V17, Atrium Park, the Danubius Buildings, and, most recently launched, Greenway,” adds the Hungary-based international developer.
To ensure the successful closing of the transaction, Wing collaborated with Taylor Wessing as legal advisers, with technical due diligence performed by Sentient, tax and financial advisory handled by Becher & Torma, and Cushman & Wakefield acting as the business advisor. The acquisition was financed with the participation of K&H Bank.
The building, at Váci út 76, in Pest’s District XIII, at the prominent intersection of Váci út and Dózsa György út, is directly above the M3 metro line’s Dózsa György út station. Wing announced the acquisition from CA Immo on June 25, describing it as one of the largest office transactions on the Váci út office corridor in the past three years.
HelloParks has completed an agreement to sell its FT1 logistics warehouse at its Fót megapark to an international investor. The highly sustainable building operates at full occupancy with a stable tenant base. The agreement signals the return of international investors to the Hungarian market as country risk continues to decline, according to the industrial development arm of Futureal.
The 46,000 sqm FT1 warehouse is fully leased and complies with BREEAM New Construction “Excellent” accreditation, supporting lower operating risk and long-term value retention. All four completed warehouse buildings at HelloParks Fót (18 km northeast of central Budapest by road), totaling 160,000 sqm, are fully leased.
“Over recent weeks, international capital has clearly started to turn its attention back towards Hungary, while Hungarian assets remain underweighted in investor portfolios compared to regional markets,” comments Gábor Futó, founder of HelloParks and the Futureal Group.
“Risk premiums and government bond yields have fallen significantly, materially improving the country’s investment profile. This points towards substantial liquidity growth and yield compression across the industrial and logistics real estate sector. This transaction is one of the first tangible signs of that shift,” he adds.
The repricing of Hungarian assets is no longer an expectation but a market reality. “Bond, FX and CDS markets have already started pricing in the decline in country risk over the past few weeks,” adds Olivér Treiber, chief investment officer at HelloParks.
“The gradual return of EU funding and the interest rate-cutting cycle could provide further momentum to this process. In the prime industrial segment, this may result in progressive yield compression, bringing Hungary closer to Warsaw and Prague benchmark levels over the medium term,” Treiber adds.
Baker McKenzie Hungary advised the purchaser on legal due diligence, and Teknik on technical due diligence.
HelloParks has four locations around Budapest, where it is developing more than one million sqm of warehouse and industrial space on a total of 200 hectares. The total development value of delivered and ongoing projects is nearly EUR 600 million.
This article was first published in the Budapest Business Journal print issue of July 3, 2026.
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