Skanska sells Green House office building to FHB unit

Office Market

Real-estate investment fund Torony, managed by Diófa assets manager, which is part of the Hungarian FHB Group, bought Swedish property developer Skanska's Green House office building located in Budapest, Skanska Magyarország Ingatlan informed Hungarian news agency MTI today.

The price of the transaction remained unveiled. The cost of the project was estimated at €32.5 mln in 2011 at the launch of the investment.

The seven-storey building, located in Budapest's 13th district, was completed at the end of 2012. It has leasable office area of 17,800sqm, 98% of which is let.

The building last year received LEED Platinum certification award, the highest level of the international LEED environmental rating system and was also chosen the World Gold Winner in the office category for the FIABCI World Prix d’Excellence Awards 2014

Skanska's next project is dubbed Nordic Light, which will be a 26,200sqm office building built in the same street of Budapest, with the expected opening date of the beginning of 2016.

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