Faedra Group sells Faedra22 in Budapest

Faedra22, the second logistics development by Faedra Group, is located in the Southern hub of the Budapest logistics market, at the intersection of the M0 and M6 motorways. The 16,600 sqm development concept was tailored around high building specifications and a strong ESG focus including heat pumps, solar panels and rich insulation, all contributing to a BREEAM Very Good and A+ energy rating.

The project’s success was demonstrated by achieving 100 percent pre-lease to various tenants, as well as having identified numerous capital sources willing to acquire Faedra22. Throughout the marketing process, a German capital source was selected as the ideal buyer.

“We are proud that despite the changing investment landscape, Faedra Group has managed to meet its disposal plan in line with expectations from two years ago, satisfying both our financing and capital partners. Selling Faedra22 now demonstrates the need for quality logistics developments in Budapest by financing institutions, tenants, and investors. Faedra22 marks the second of such development by our group, and we continue our development plans, not only in this interesting asset class,” said Bence Boronkay, founder and owner of Faedra Group.

“The sale transaction on Faedra22, following an intensive bidding process at benchmark pricing may indicate a turning point in price adjustments in the Budapest logistics sector. Colliers’ involvement in identifying multiple international buyers reaffirmed that prime quality warehouse facilities are still the most commanded assets in Hungary,” commented Bence Vécsey, Head of Capital Markets with Colliers.