Europa Capital has closed an office portfolio acquisition on the Hungarian market, adding 30,000 sqm of space to its panāEuropean investment fund, Europa Fund IV. The deal includes three office buildings: KaĢlvin Centre, Duna Office Centre and Baross, which will be repositioned in an effort to attract new tenants. ConvergenCE Hungary acted on behalf Europa Capital. ConvergenCE was appointed asset manager of the portfolio. The companies most recently worked together developing the ā¬30m Eiffel Square in Budapest.
āThe acquisition of this portfolio fits our strategy of acquiring well-located buildings in principal capital cities in the CEE region that are fundamentally sound but are under-capitalized and require intensive asset management in order to fulfill their potential. The purchase price ensures we are able to offer attractive terms to tenants in order to secure new leases in order to underpin the value of the portfolio in a concise time frame,ā said Robert Martin, principal and head of Central Europe at Europa Capital.
