CA Immo has sold the Bartok Haz building in central Budapest to a DRFG Investment Group, marking the buyer’s first commercial property acquisition in Hungary.
The multi-tenant building was completed in 2003, has a gross leasable area of approximately 17,700 square meters, and offers 408 parking spaces. As of September 2025, occupancy is about 95% with a WAULT of 5 years to end (by income) and annualized, in-place GRI of EUR 3.5 million.
“Based on market fundamentals and attractive alternative capital allocation options, we have decided to reclassify Hungary to a non-core market in 2023,” commented CA Immo CEO Keegan Viscius. “Following the recent sale of the IP West office property in Budapest, this transaction is a further step in the implementation of our strategic capital rotation programme and towards our exit from the Hungarian market. The proceeds from sale may be used in a number of ways, including general corporate purposes, accretive investment in our prime portfolio, repayment of debt, buyback of shares, and external investment should attractive opportunities arise.”
“[The] Budapest office investment market is recovering and has already overtaken the transaction volumes of 2024,” added CA Immo Head of Investment Management Hedwig Hoefler. “Especially foreign investors have once again turned their attention to investment opportunities in Hungary. We have successfully closed two transactions this year and are confident that our quality portfolio will attract further investors.”
“I am pleased that we have successfully completed another significant acquisition,” commented DRFG Director of the Real Estate Division Jan Pelisek. “This is an attractive property in a prestigious location that fits perfectly into our long-term strategy for growth and diversification. Bartok Haz is the group’s first office and commercial property in Hungary, yet we already see additional opportunities in this market that we intend to pursue.”
According to DRFG, the transaction also involved the development company TriGranit, which became part of the DRFG Group last year. TriGranit will be responsible for the building’s asset management, investments aimed at improving ESG parameters, and leasing activities.
“We see Budapest and the entire Hungarian market as highly promising,” commented TriGranit CEO Tomasz Lisiecki. “With our long-standing knowledge of the market and a strong local team, we identified numerous opportunities for further development. Bartok Ház is a stable asset with a strong tenant portfolio, providing us with scope for further value creation.”
On the buyer’s side, CBRE acted as advisor, legal advisory services were provided by Bird & Bird, and technical advisory services were provided by Sentient. On the seller side, Cerha Hempel advised CA Immo.