GTC has completed the sale of Spiral office building in Budapest for EUR 41m. The 30.000 square meter category āAā office building was developed in 2008 by GTC. The developer has not disclosed who purchased the building located on Dozsa Gyorgy utca. Spiral office building is currently entirely leased by Magyar Nemzeti Vagyonkezelo Zrt. with an additional commercial space of 1900 square meters leased to a fitness operator and restaurant. The chairman of GTCās board of directors Yovav Carmi said in a statement: āWe believe the time has come to update our portfolio in Hungary with the sale of well-functioning assets, creating opportunities for new, exciting acquisitions and developments. Spiralās sale is in line with this strategy and provides funding for new acquisitions and new development projects, such as Pillar or Center Point 3 office buildingā.
