Skanska sells Green House in Budapest

Skanska Property Hungary has sold its internationally awarded Green House office project. The new owner of the green office building is the Hungarian open-ended property fund Torony Real Estate Investment Fund managed by Diófa Fund Management, a member of FHB Group.

Green House is Skanska’s sixth office investment in the capital city of Hungary. The 7-storey building, situated in the central 13th district of Budapest, offers 17,800 square meters of leasable office space and was completed in December 2012. Currently, 98 percent of the building is leased to well-established international tenants such as Avis Budget Group, MSCI or ABB among others.

“The transaction proves that investors have a great trust in Skanska and increasing interest in the Budapest market. We believe that our next project will perform equally successfully both among tenants and investors.” Zoltán Linczmayer, Managing Director of Skanska Property Hungary said.

Green House is another great example of Skanska’s successful office developments in the CEE region.


“There was a big interest in this A class office building from both, the international and Hungarian real estate community. We are very pleased with the fact that the project was sold to the Hungarian institution Torony Real Estate Investment Fund.” added Adrian Karczewicz, Transaction Director of Skanska CDE.

The FIABCI World Prix d’Excellence Awards 2014 World Gold Winner and CEE Green Building awarded Green House is the only LEED Platinum certified office building in Hungary.

“We are glad to realize the transaction with Skanska, who proved to be a helpful, professional and prudent partner during the preparation and the arrangement of the deal. Also, Erste Bank, the financial partner in the acquisition, provided great help to ensure the fluency of the transaction.” Gergely Biró, Chief Executive Officer of Diofa Asset Management said. Green House development concept: the location, the efficient green operation and Skanska’s tenant-focused vision of an ideal workplace all had a share in the leasing success and the fast divestment of the project.

“We are happy to complete the first real estate acquisition of Torony Real Estate Fund’s portfolio, with a building that is currently one of the greatest office buildings of Budapest. We are especially pleased, that as a relatively new market-participant, we could realize such a significant deal in a rather challenging market environment.” Márton Oláh, Chairman of The Board of Diófa Asset Management said.

Minimized environmental impact, decreased energy consumption and CO2 emissions are just some of the great achievements of Green House. The landmark project offers a unique atmosphere, friendly working environment, a beautiful internal garden, a great variety of in-house services and proven cost-efficient green operation.

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