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Atenor completes sale of Váci Greens phase I

Office Market

International real estate developer Atenor has sold the third “B” building of the Váci Greens office complex in Budapest to OTP Prime Property Investment Fund, according to a press release sent to the Budapest Business Journal today.

By selling the office building with 24,700 square meters of floor space and a 399-space parking garage, Atenor has sold all three buildings of the Váci Greens office park delivered as phase I of the development, with a total value of EUR 140 million. All three buildings have an occupancy rate of 90% or higher.

“The development of Váci Greens is proceeding with phase II, and it is planned to be finished in the course of 2019. The subsequent ‘D’, ‘E’ and ‘F’ buildings will offer ‘A+’ category offices, with 65,000 sqm leasable office space, bearing the BREEAM Excellent qualification,” said Nikolett Püschl, leasing manager of Atenor.

Besides its successes in Budapest, Atenor has also sold its Hermes Business Campus office complex in Bucharest, with a total of 72,000 sqm office space. The project developed in the Romanian capital operates with a 100% occupancy rate. As a result of the increasing interest of investors demonstrated in the region, Atenor has launched the development of another project in the center of Bucharest, with 12,000 sqm of office space.

Based on the experiences and successes of the past ten years, in the future Atenor is committed to further strengthening its role on the European real estate market, primarily in Brussels, Luxembourg, Bucharest and Budapest, the press release states.

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