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Office Market News

IMMOFINANZ expands STOP SHOP portfolio to 80 locations with eight new acquisitions

IMMOFINANZ is driving the expansion of its successful STOP SHOP retail park brand and has now purchased eight retail parks in Slovenia, Serbia and Croatia. The purchase price totals approximately EUR 90.5 million. The newly acquired properties are fully rented and generate annual rental income of roughly EUR 7.2 million, which represents a gross return of 8.0%

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New success of ESTON’S tenant representation team – Hortonworks has Recently extended their office lease in Central Udvar office building in Budapest

The American owned HortonWorks has recently extended their office lease in the CBD in Central Udvar. The tenant representation team of ESTON International supported the California based data software developer company from Santa Clara.

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Global investment volume rises driven by robust us market

According to the latest data of CBRE the leading property advisor the global investment volume increased 3.6% year-to-date (YTD), compared to the same period last year, with Q3 up by 1.2% (in fixed exchange rates).

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DVM group to Construct a New Hotel for B&L Gruppe in Budapest at Keleti Railway Station

DVM group signed a contract with German developer B&L group to build a hotel at Baross square, Budapest. The new player on the Hungarian market entrusted DVM group with the construction planning and the construction works of their hotel project in Budapest. This mandate is one of the largest instructions DVM group has won on the Hungarian market to date. Planning and preparations already started early November.

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Invitel Zrt. completes Tenant Portfolio in CityZen

CityZen office building has reached full capacity after leading Hungarian telcom provider Invitel Távközlési Zrt. moved to the building. Invitel, a company recently purchased by DIGI Group, decided to move its Headquarters from Budaörs to the A+ category CityZen office building on Váci út.

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Qualifying with RICS ensures the highest standards in the Real Estate Industry

RICS is considered the world’s preeminent qualification and standard-setting body for land, property and construction, with more than 125 000 members practicing in more than 146 countries over the world

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Tenant representation by JLL got the first position again

According to the registered leasing activity during the third quarter, between January and September of 2018 JLL's tenant representation services have finished first place in the real estate advisors' ranking with a total of 36,143 sq m leased office space in Budapest.

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The Budapest Research Forum hereby reports its Q3 2018 office market summary.

The Budapest Research Forum (hereinafter the ‘BRF’, which comprises CBRE, Colliers International, Cushman & Wakefield, ESTON International, JLL and Robertson Hungary) hereby reports its Q3 2018 office market summary.

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