TriGranit is one of the largest, fully integrated real estate platforms in Central Europe, focusing primarily on quality retail and Class “A” office buildings in strategic urban locations. TriGranit conducts a full spectrum of real estate activities, including acquisition, development, construction, as well as property and asset management. In its two decades of operation, TriGranit has developed nearly 50 landmark projects creating 1 million square meters of GLA in seven CEE countries and has won more than 40 highly prestigious international awards.
Name of the deal
The sale of the Millennium Towers
Value of the transaction (in EUR)
EUR 175 million
Yield
6,9%
Consultancy which advised Seller
Dentons, JLL
Purchaser, plus brief information about the company
CA Immo specialises in office properties in Central European capitals. The company was founded in 1987 and operates today in the core markets of Austria, Germany, Poland, Hungary, Czech Republik and Romania. CA Immo is listed on the Vienna Stock Exchange and included in the ATX index and controls property assets of around € 3.7 billion.
Consultancy which advised Purchaser
CHSH
Financing institution
n/a
Current occupancy level
99,7%
Please say why this deal should be considered for the award
Millennium Towers was developed by TriGranit between 2006 and 2011. With this project, TriGranit turned a brownfield site into a flourishing new city district and created unique office spaces in the real-estate market. After developing the project during the economic crisis, TriGranit quickly positioned the complex as one of the most popular headquarters for large, multinational companies, such as Vodafone, Morgan Stanley, Oracle, K&H Bank, Lexmark and Nestle. TriGranit, has sold a Class A 70,400 sqm complex, comprised of four office buildings within the Millennium City Center in Budapest, Hungary, for €175 million. The transaction is one of the largest ever office deals in the Hungarian market, by both value and gross leasable area.
