Avison Young successfully mediated the disposal of two Budapest CBD architecturally significant assets on behalf of a US family office. Bathory Street 12 and Herzog Villa at Andrássy Avenue 93 are two fully leased single-tenanted office buildings enjoying prime locations within Budapest CBD.
They have been locally managed by Teichmann & Compagnons since its acquisition in 2015.
The Seller commented, “We have recently secured the lease extension of our tenants in both buildings; hence this was perfect timing to dispose of the stabilized assets. Through this seamlessly executed transaction managed by Avison Young, we were able to successfully exit the Hungarian market while achieving excellent returns.”
The Seller was advised on the disposal by Benjamin Perez Ellischewitz, Principal at Avison Young Hungary. Legal support was provided by Szécsényi & Partners (sell side) and Oppenheim (buy-side).