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ConvergenCE sells Árpád Center

Office Market

Photo by ConvergenCE

ConvergenCE closed the sale of Árpád Center, a popular office building at the junction of Árpád híd and Váci út, according to a press release sent to the Budapest Business Journal.

The building was acquired by Investum Kft. During the transaction, ConvergenCE was represented by Cushman & Wakefield.

Csaba Zeley, managing director at ConvergenCE, says, “Since the purchase of the building in 2019, we turned the then undermanaged and slightly neglected building into a fruitful project. We have regeared the leases, leased the vacant areas and developed a strong, long-term relationship with occupants that valued our flexible landlord attitude and tenant-focused property management. As a result of these, as well as Investum’s fast decision-making process, we managed to sell the building off-market, before the date previously set in our business plan. We are happy that our work with the building is still not over, as the new owner mandated us with managing and leasing of Árpád Center further.”

Zoltán Ligetvári, associate at Cushman & Wakefield concludes, "Despite the challenging environment, we are proud to have fulfilled the expectations of our client. The buyer delivered the closing at an unprecedented pace, thus making Árpád Center the first office component in Pest of their growing real estate portfolio.”


 

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