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CMS advises real estate developer ATENOR on the sale of VACI GREENS Building C to ZFP Investments

16 December 2016

CMS advised Belgian real estate developer ATENOR on the sale of VACI GREENS Building C to Czech investment fund ZFP realitní fond (managed by ZFP Investments).

The building is one of the three buildings completed by ATENOR within its successful VACI GREENS development in Budapest. Building C, completed in June 2015, comprises 18,500m² office space, fully let to GENERAL ELECTRIC.

The whole VACI GREENS development, initiated by ATENOR in 2008, will comprise six office buildings, totalling over 120,000m² Grade A office space. Ideally located within the fast developing business area of the VACI CORRIDOR, the development obtained the highest BREEAM environmental certification, as well as several International Real Estate awards. It attracted prestigious tenants, in particular GENERAL ELECTRIC which selected VACI GREENS to establish its European Global Operations Center.

Investment market has been recently very active in Budapest and various investors demonstrate a strong interest for the purchase of buildings A (15,700m², 88% let to various tenants) and B (25,300m², 65% let).

The CMS team assisting ATENOR included Partner Gábor Czike, Senior Counsel József Várady and Lawyer László Jókay.

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