Horizon Development Ltd. has announced it will take over the property management, redevelopment, leasing and marketing tasks of the Park Atrium office building starting June 1, 2019, according to a press release sent to the Budapest Business Journal.
The company says that it aspires to make a smooth transition ensuring continuous daily operations, while supporting tenants in all emerging issues.
Designed by contemporary Dutch architect Erick van Egeraat and completed in 2004, Park Atrium is located just across the street from Heroes’ Square, the Műcsarnok (Kunsthalle), the Museum of Fine Arts and the Liget Budapest Project on Dózsa György út. Its four blocks offer 26,000 square meters of gross leasable area (GLA) for both office and retail use, with great views of Városliget (City Park). The property houses the local headquarters of ING, NN, Deloitte and Roche, which jointly occupy 100% of the total available space.
“To be entrusted with the complex property management, redevelopment, leasing and marketing mandate of Park Atrium is a great privilege for our development company that has been on the real estate market for one and a half decades now,” said Horizon Development Managing Partner Attila Kovács. “With our expertise gained in self-developed properties (Eiffel Palace, Váci 1 and Promenade Gardens), we can guarantee that current and future tenants of Park Atrium will enjoy world-class services.”
“We have a well-established cooperation with Horizon Development ever since we purchased Eiffel Palace, developed and managed by the premium Hungarian developer,” commented Dominik Ewerz, asset manager at REInvest Asset Management S.A. – representing the owner, a Luxembourg-based real estate fund. “It was the most logical next step for us to continue with an even wider collaboration,” he added.