Warburg HIH Invest Real Estate has acquired White House, a new office building in Budapest developed by GTC. The 22,300 sqm building is fully leased to companies such as BlackRock, Spaces, Jaguar Land Rover with the average lease term currently at 8.2 year. The buyer did not disclose the purchase price.
“With this acquisition, we transacted a property investment that is sustainable in every way,” said Matthias Brodesser, Head of Transaction Management International at Warburg-HIH Invest. “Since 2010, Hungary’s economic output has grown at a stable annual rate of 2.25 percent while wage increases combine with virtually full employment. In addition to the positive economic aspects, the high environmental compatibility of the property has been verified by its LEED certification.”
