The Hungarian commercial real estate market reached the highest volume since the peak of the market in 2007 with ca. €790 million transacted in 2015. Almost 60% of the annual volume was generated by portfolio transactions, which clearly reflects the increasing interest of investors for large platforms in an attempt to gain significant exposure to the market.
TPG Real Estate, the real estate arm of global private investment firm TPG has closed its acquisition of TriGranit, one of the main fully integrated, real estate platforms in Central Europe. As part of the transaction, TPG acquired the platform along with a portfolio of office and retail assets located in Poland (Bonarka Shopping Centre, B4B), Hungary (Millennium City Centre Offices) and Slovakia (Lakeside Park office building, Metropolis – 47,5 ha land near Bratislava) with additional development sites in the same countries and Croatia.
Following 1st January 2016, Marcin Łapiński, currently Managing Director at Skanska Property Romania, will take the corresponding position at Skanska Property Hungary. Furthermore, Zoltán Linczmayer and Aurelia Luca will be nominated for the newly established roles of Country Directors in the company’s both Hungarian and Romanian units respectively.
The Budapest Research Forum (BRF, which comprises of: CBRE, Colliers International, Cushman & Wakefield, Eston International, JLL and Robertson Hungary) hereby reports the Q3 2015 office market analysis. Two schemes were delivered to the market in the third quarter of 2015 adding a total of 27,800 sq m to the modern office stock. This includes the refurbishment of Erzsébet Irodaház A and the delivery of owner-occupied Bosch HQ second phase.
International advisory company JLL presents its preliminary summary of investment transactions concluded in Q1-Q3 period of 2015 on the commercial real estate markets across Central and Eastern Europe (CEE). The summer months have again seen a hive of activity across the CEE with a preliminary transaction volume of well over €2.8 billion recorded in the third quarter.
International real estate services provider JLL represented AEW Europe in the disposal of their Hungarian real estate portfolio. This transaction is the largest portfolio sale in Hungary since the global financial crisis.
The Budapest Research Forum (BRF, which comprises of: CBRE, Colliers International, Cushman & Wakefield, DTZ, Eston International, JLL and Robertson Hungary) hereby reports the Q2 2015 office market analysis.
UPC chose Haller Gardens as its new headquarters in Budapest renting 5,600 sq m of office space in the building. During the transaction CBRE represented the tenant and JLL acted on behalf of the owner.
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