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TriGranit partners with Heitman in Millennium City Center

Hungarian property developer TriGranit has formed a joint venture with global real estate investment manager Heitman to own and operate four properties with a combined area of 70,000sqm in Budapest’s Millennium City Center, Cushman and Wakefield, an advisor for the transaction said.

TriGranit will act as asset manager for the properties.

Big tenants in the development include Morgan Stanley, Vodafone, Nestle and Schering Plough.

Business daily Napi Gazdasag said on Monday that the TriGranit sold Heitman a 74% stake in the properties for €150m.