In April 2017 Prime entered a strategic joint-venture with a Global Investment Bank, as part of which Prime became the Asset Manager and a minority co-investor in two centrally located office buildings in Budapest. Central Udvar is located in one of the most vibrant areas of Budapest’s district 7, and consists of 4 buildings with a total lettable area of circa 15.200 sqm. The offices are 100% let for long periods to international and local reputable tenants, and is anchored by Unicef. During February 2018, and after major value-add initiatives were implemented (letting of vacant spaces, expansion of current leases and capital investments) the building was sold to an international property fund, resulting in significant return achieved over the holding period.
15.200 sqm (GLA)