Accounting and property management of Váci Greens’ Building „C” carried out by CBRE
January 23, 2017
The property management and (property and SPV) accounting of Váci Greens’ Building C, acquired by ZFP Investments, acting on behalf of the ZFP realitní fond, a Czech real estate fund entering the Hungarian commercial real estate market, is now performed by CBRE.
In December 2016 the Czech ZFP realitní fond real estate fund purchased Building C of Váci Greens office building from Atenor. The investor has mandated CBRE, the winner of the „Property Management Company of the Year” award by iroda.hu in 2016, with carrying out the property management and fully comprehensive accounting of the building.
„We are honoured that CBRE is seen as a reliable Hungarian partner of an investor entering a new market. Beside other business lines and property management, CBRE also provides fully comprehensive accounting and registered seat service, which played a significant role in winning the commission. Our integrated service approach greatly facilitates the building’s property management and accounting tasks, as it saves a lot of time through automation and is much more effective than if we were running two separate databases simultaneously, eliminating the reconciliation issues often occurring otherwise, and the use of paper. In this respect, CBRE is unique in the Hungarian commercial real estate market, as we perform the property management and fully comprehensive accounting of the property with an integrated property management and accounting software - from entering a lease contract and invoicing through the landlord’s approval and tenant’s payment to tax return and to landlord reporting”, commented Zsolt Kákosy MBA, MRICS, CBRE’s Head of Asset Services.
The Váci Greens project, which was launched in 2008 by the Belgian real estate developer Atenor, will be comprised of six office buildings when completed, with category „A”, BREEAM „Excellent” certified office space standing on over 120.000 sq m. Today the office park’s Building C is leased entirely by General Electric, who chose Váci Greens office park as the location of their Global Operations Center.
ZFP Investments is a subsidiary of the Slovak IAD Investments, an asset management company managing a portfolio of nearly EUR 500 million and of the Czech financial services company ZFP Akademie, which since its foundation in 1995 gradually gained tens of thousands of sales representatives and facilitated more than 3 million contracts.
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